393

LAWS OF MAEYLAND.

debt, and one thousand dollars of the principal thereof; and the

mayor and council shall thereafter pay annually one thousand dol-

lars of the principal of said debt, and the said bonds when issued

shall be made to fall due so as to be payable as herein provided.

204. Said bonds, when signed by the mayor and attested by

the clerk as directed in section two hundred and two, shall be

handed over to the tax collector, who shall receipt for the same,

which receipts shall be filed and safely kept by the clerk to the

mayor and council, and the bond of the tax collector shall be

To sell.

responsible for the safe keeping by the said tax collector of said

bonds and the proceeds thereof; the tax collector shall sell said

bonds at public auction at such times and in such amounts as

the mayor and council shall order; he shall transfer and deliver

the same as sold to the purchaser and receive the money therefor,

and shall report under oath, to the mayor and council his pro-

ceedings in the premises, with the names of the persons to whom

said bonds have been transferred, together with the amounts re-

ceived by him from said sales; said money shall be credited on

the books of the tax collector to the drainage and street improve-

ment fund, respectively, and paid out by him for the purpose

named in section two hundred and one of this act, for which it

is received, and in the manner as provided; provided, however,

that at an election to be held on the third Monday of April, eigh-

teen hundred and ninety, the creation of the loans herein pro-

Submitted

vided for shall be submitted to the qualified voters of said town,

and all ballots in favor of said loans shall have written or printed

on them the words : "For the drainage and street repair funds,"

and all ballots against the said loans shall have written or printed

thereon the words : "Against the drainage and street repair funds;"

if a majority of the votes so cast shall be "For the drainage and

street repair funds," then sections two hundred and one, two hun-

dred and two, two hundred and three, two hundred and four and

two hundred and five of this act shall be in effect, and if a major-

ity of the votes so cast shall be "Against the drainage and street

repair funds," the said sections as herein changed and amended

shall be null and void; and the mayor shall give notice of said

election by publication in the newspapers of said town for at least

ten days before the day of said election.

205. The mayor and council shall cause to be kept a careful

register of the bonds so issued and the transfers thereof, and as

Register.

the same are called in and paid off they shall be cancelled, and a

record of the cancellation by numbers, amounts and names of the

last holders of said bonds shall be made and entered upon the

books in which said bonds are registered.

Approved April 3, 1890.