HARRY W. NICE, GOVERNOR. 669

each such Series and different rates of interest, not exceeding
the maximum rate of interest authorized in Section 1 of this
Act, as, in the discretion of the Commissioners of Delmar,
may appear appropriate. Any of the bonds issued pursuant
to the authority of said Chapter 16 of the Acts of 1927 turned
in as a result of the redemption or exchange above provided
for shall be promptly handed over to the Clerk of the Com-
missioners of Delmar and by him cancelled and destroyed.
None of the bonds authorized to be issued by this Act shall be
issued for any other purpose than that hereinabove specified,
nor shall any of the proceeds or the sale of any of the bonds
hereby authorized be diverted to any other purpose than the
redemption of the bonds issued pursuant to the authority of
Chapter 16 of the Acts of 1927, and in no event shall any of
the bonds authorized to be issued by this Act be issued and
sold unless and until the written consents for exchange or re-
demption be obtained from the bona fide holders of an equal
amount of the bonds issued pursuant to said Chapter 16 of the
Acts of 1927, and at no time shall there be outstanding bonds
issued pursuant to this Act and pursuant to said Chapter 16
of the Acts of 1927 in an amount in excess of Ninety-Three
Thousand Dollars (. f93, 000. 00) par value thereof.

SEC. 3. And be it further enacted by the General Assembly
of Maryland., That the principal and interest of the bonds here-
by authorized shall, when and if any of the same are issued,
be payable primarily from the remaining proceeds of the
rents, charges, assessments or other special taxes levied pur-
suant to the authority of said Chapter 16 of the Acts of 1927,
after a sufficient amount of said proceeds has been used or
set aside for the payment in any one year of the interest on
and principal of any of the bonds issued pursuant to said
Chapter 16 of the Acts of 1927 then outstanding, and if the
balance of said proceeds so collected in any one year is insuf-
ficient to provide fully for the payment of the interest due on
the bonds issued pursuant to the authority of this Act and for
the retirement of any of said bonds which may have been
issued to mature serially, and for the payment required to be
made into the sinking fund for any of said bonds which may
have been issued to mature all at one time, then the Commis-
sioners of Delmar shall levy a tax upon all the assessable
property within the corporate limits of said town sufficient to
provide the balance of the funds necessary for the payments on
account of principal and interest hereinabove referred to, and
said tax shall be continued in succeeding years thereafter until
the proceeds of the rents, assessments, charges or other special
taxes above referred to shall produce an amount sufficient
to cover all of said payments.