WM. T. HAMILTON, ESQUIRE, GOVERNOR.

125

same, in the judgment of the said Commissioners,

can be obtained at a fair and reasonable price, and

if said bonds cannot be so obtained, then, and in

that case, such proceeds as soon as conveniently may

be, shall be invested by the said Commissioners in

How invested.

such other interest-bearing securities, readily con-

vertable into money, as the said Commissioners may

determine, and the said securities shall be sold and

the proceeds thereof applied to the redemption of

the said bonds, when and as soon as the same are re-

deemable, at the pleasure of the said Commissioners.

SEC. 6. And be it enacted, That the said Com-

missioners of Easton shall cause a separate and dis-

Keep sepa-

tinct account to be kept of the number and amount

rate account.

of the bonds which may be issued under this act of

the person or persons by whom the same may be

taken or held, of the amount received in each year

from the tax hereby authorized to be levied, and of

the disposition thereof, and when and as soon as one

or more of the said bonds are purchased or redeemed,

the same shall be cancelled and destroyed, and a

memorandum of such cancellation and destruction,

describing such bond or bonds, shall be entered on

said account.

SEC. 7. And be it enacted, That this act shall

Effective.

take effect from the date of its passage.

Approved March 21, 1882.