FRANK BROWN, ESQUIEE, GOVERNOR.

853

less than the par value thereof, and the same shall be exempt

from county and municipal taxation.

SEC. 2. And be it enacted, That the said bonds shall be

issued payable thirty years from the date thereof andi

Same to be

redeemable at any time after the expiration of twenty years

payable

from the date thereof, at the pleasure of the mayor and

common council of Westminster, and the said bonds shall

be consecutively numbered as the same shall be issued.

SEC, 3. And be it enacted, That the said sum of fifteen

thousand dollars, or so much thereof as may be necessary

$15,000 for
paving

for this purpose, shall be, by the said mayor and common

streets.

council, used and applied exclusively to the payment of the

cost and expenses of paving, grading or macadamizing and

in construction of sewers in such street or streets in said

city of Westminster as the said mayor and common council

may order and direct.

SEC. 4. And be it enacted, That the said mayor and com-

mon council be and they are hereby authorized and required,

To levy

in each and every year, to levy and collect a special tax,

special
tax.

not exceeding six cents on every one hundred dollars worth

of the taxable property, of all kinds and description liable

to assessment and taxation within the corporate limits of

the city of Westminster, to pay the interest on the out-

standing bonds by them issued under the provisions of this

act, as the same shall fall due, and to gradually redeem and

retire such bonds until they shall all have been redeemed

and retired ; and the proceeds of such taxes, shall be paid

to the said mayor and common council and forthwith by

them applied to the redemption of said bonds, when and as

soon as they shall become redeemable, and the said taxes

are hereby inviolably to the payment of the interest and

principal of said bonds.

SEC. 2. And be it enacted, That this act shall take effect

Effective.

from the date of its passage.

Approved April 7th, 1892.