WILLIAM T. HAMILTON, ESQUIRE, GOVERNOR. 723

	SEC. 8. And be it further enacted, That said Mayor
	and Council of Hagerstown, in making their contract
	with said joint stock water company, shall further
	provide, that whenever the revenues of said company, including the annual payment of one thousand dol-
	lars made by said mayor and council to the said
	company as hereinbefore provided in section seven
	of this act, shall exceed the working expenses, the	Excess — how
	cost of repairs, improvements and additional water	applied.
	pipes and plugs that may have been ordered by the
	mayor and council, as well as six per centum upon
	the capital stock of said water company, then such
	excess shall be paid to the treasurer of said town, to
	be applied to reimburse the said mayor and council
	for all annual sums in excess of one thousand dollars
	per annum advanced or paid by said mayor and
	council as interest.
	SEC. 9. And be it further enacted, That the Mayor
	and Council of Hagerstown, in making a contract
	with a joint stock water company hereafter to be
	formed, shall bind said joint stock water company
	to make its shares of capital stock of the par value
	of ten dollars, and that the said joint stock water
	company, after having advertized in the town news- papers the time and place where subscriptions to said	Advertise for subscriptions
	stock can be made, shall offer to the citizens of
	Hagerstown such capital stock for subscription
	thereto, in amounts not greater than fifty shares to
	any one subscriber, for at least three weeks after the
	formation of such joint stock water company.
	SEC. 10. And be it further enacted, That in order
	to enable the Mayor and Council of Hagerstown to
	carry out the provisions of this act, the said mayor
	and council are hereby authorized, empowered and
	directed to levy annually upon the taxable property
	within the corporate limits of Hagerstown, a water	Levy water
	tax, to be levied and collected the same as other	tax.
	corporation taxes are levied and collected, and that
	the said taxes levied and collected for a water tax
	shall be kept as a separate fund, and shall not be
	used for any other purpose than to pay said joint stock water company the interest on the cost of con-
	structing water works as hereinbefore provided ; and
	the mayor and council shall levy annually, and col-