WM. PRESTON LANE, JR., GOVERNOR. 1319

said bonds shall be payable semiannually and said bonds
shall mature at a period not exceeding forty years from
the date of issuance, and shall be forever exempt from
State, county and municipal taxation, and shall be a lien
upon all assessable property within the said town of
Mardela Springs. The bonds may be dated as the au-
thorities may decide, may be either serial bonds or sinking
fund bonds, and the authorities are authorized and em-
powered to sell the bonds in any way they may deem
proper, they may be sold either locally over the counter,
or by advertising, to a responsible underwriter after ad-
vertisement, if this latter method is elected.

155D For the purpose of retiring the bonds issued
under this Act and of paying interest thereon, said
municipal authorities may raise the necessary funds to
meet such obligations, either by levying a tax against
all the assessable property within the municipality
served annually so long as any of said bonds are out-
standing, or may provide for the whole or any part by
the levy of a front foot assessment charge on all property
abutting on a street, road, alley or right-of-way in which
a water main is laid, or may provide for both the levy
of a tax and the levy of a front foot assessment charge,
as above mentioned. The tax so levied shall be sufficient
in amount to meet the interest on said bonds as it becomes
due and to pay the principal thereof as they mature,
or such part of said amount as may not be raised by an-
nual front foot assessment as hereinafter provided in
Section 155E, said tax to be determined, levied and col-
lected in the same manner as in the case of other muni-
cipal taxes. The taxes levied under this Act shall have
the same priority rights, bear the same interest and
penalities, and in every respect be treated the same as
other municipal taxes. In order that the prompt pay-
ment of interest and the proper provision for the payment
of the principal of the bonds issued under this Act shall
be assured, the prompt and proper performance of the
duties imposed upon the tax levying authorities is specific-
ally enjoined, and any failure upon the part of any per-
son, or persons, body corporate or agent to perform the
proper acts and duties in connection with the levy and
collection of the necessary taxes, or the use of any of
the funds collected by virtue of this section for any other
purpose than for the payment of the principal and inter-
est on said bonds, shall hereby be declared a misdemeanor
and punishable as other misdemeanors are punished by
Section 155P of this sub-title.