HENRY LLOYD, ESQUIRE, GOVERNOR,

395

are hereby authorized and empowered to issue
coupon bonds, bearing four per cent, interest,
to an amount not exceeding one hundred and
twenty-three thousand seven hundred dollars,
in sums of not less than one hundred and not
more than one thousand dollars, to be signed
by the President of said County Commis-
sioners, and to be countersigned by the Clerk
thereof, bearing interest at the rate of four

Issue bonds.

per cent, per annum, payable semi-annually,
on the first days of January and July in each
year, and that the coupons on said bonds shall,
when they become due, be received by the
Collector of taxes for said county in payment
of county taxes.

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

Four percent.

shall be payable in forty years from their date,
and shall be redeemable at any time after the
expiration of ten years from their date, at the
pleasure of the said County Commissioners.

SEC. 3. And be it enacted, That said County
Commissioners are hereby authorized and re-

Payable.

quired to sell said bonds to the best advantage
at public sale, after advertising for bids for
the purchase thereof, as they may deem most
desirable, and after such notice as they may
determine; provided, however, that said Com-
missioners shall not sell any bonds issued
under this act for less than par.

SEC. 4. And be it enacted, That the money
arising from the sale of said bonds issued under

Sell bonds.

this act, shall be exclusively appropriated and
applied to the payment of the present out-
standing bonds issued under the act of eigh-
teen hundred and seventy-eight, chapter two
hundred and forty-three, now redeemable and
payable by said county.

SEC. 5. And be it enacted, That the said
County Commissioners shall, in each year, levy
upon the assessable property in said county
such sum of money as may be necessary to

How applied.