HARRY W. NICE, GOVERNOR. 841

Salisbury, annually, as long as any of said bonds are out-
standing and not paid a tax sufficient to meet the interest on
said bonds as it becomes due, and to pay the principal thereof
as they mature, said taxes to be determined, levied, collected
and paid over in the following manner: At least thirty days
before the tax levying period of each year the Mayor and
Council of Salisbury shall determine the amount necessary
to be raised for the ensuing year for the payment of interest
and a proportionate part of principal of all outstanding bonds,
the amount to be paid on the principal of said bonds in any
one year to be determined by the usual table of redemption
of bonds by annual deposit in a sinking fund, on interest, if
sinking fund bonds are used or the amount to be paid on
the principal of said bonds in any one year, if serial bonds
are used, to be determined by the amount of the bonds to be
matured or retired that year, and it shall deduct therefrom
all amounts in hand applicable to the payment of interest
and principal on said bonds, as herein provided. The Mayor
and Council of Salisbury in its next annual levy shall levy a
tax sufficient to raise the said amount on all land and improve-
ments and any other property assessed for municipal purposes
within said City of Salisbury, which tax shall be levied and
collected as the said City taxes now are or may be hereafter
by law levied and collected, and have the same priority rights,
bear the same interest and penalties, and in every respect
be treated the same as the said taxes for the City of Salis-
bury now are. The tax so levied for the ensuing year shall
be collected by the tax collecting authorities, and every sixty
days the said Tax Collector shall remit the full amount of
the tax so collected to the Mayor and Council of Salisbury.
From the amount so received, together with the amount in
hand to the credit of said bond fund, the Mayor and Council
of Salisbury shall first pay all interest on said bonds as it
matures and shall then deposit in some bank or banks in
Salisbury in its name as a fund to be known as the "Water
Supply and Sewer Sinking Fund Account", if sinking fund
bonds are used, or as a fund to be known as the "Water Supply
and Sewer Bond Account" if serial bonds are used, the amount
so raised for the principal of said bonds. Should the receipts
from said taxes or other sources be inadequate to deposit the
principal payment on said bonds, by reason of defaults or
otherwise, such deficiency shall be added to and collected in
the next year's tax, if sinking fund bonds are used, or such
deficiency shall be made up by a special tax on all the prop-
erty taxed as aforesaid, if serial bonds are used. The Mayor
and Council of Salisbury is authorized to pay the interest on
any bonds it may issue prior to the first tax levying period out
of the proceeds of the sale of said bonds. In order that the