HENRY LLOYD, ESQUIRE, GOVERNOR

value thereof, and to mature at such dates as
shall not require the payment, in any one
year, of more than forty-five hundred dollars
thereof; the first payment to be made in two
years after the first issue of said bonds, and
said bonds shall be exempted from taxation
for county and municipal purposes.

SEC. 2. And be it enacted, That the County
Commissioners shall issue said bonds in three
blocks; the first block of nine thousand dol-
lars, one half to mature in two years and the
other in three years, to bear interest at the
rate of six per cent, per annum; the second
block of nine thousand dollars, one-half to
mature in four years and the other in five years,

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to bear interest at the rate of five per cent, per
annum; and the third block of twenty-seven
thousand dollars, one-sixth to mature each year
after the expiration of five years from date of
issue, until all are paid, to bear interest at the
rate of four per cent, per annum; said bonds
to be disposed of to the highest responsible
bidders, at a public letting of said bonds, to be
held by the County Commissioners; and the
premium, if any, derived from the sale of said
bonds, shall be devoted to the payment of the
interest thereon.

SEC. 3. And be it enacted, That the County
Commissioners shall levy annually the amount
required to pay the interest on said bonds,
and also the amount necessary to redeem said
bonds as they shall mature; and said Com-
missioners are hereby forbidden to apply any

Maturity of
bonds.

portion of the taxes so levied to any other
purpose; nor shall they, in any year here-
after, except when extraordinary circum-
stances may require it to be done, exceed by
their expenditures for all county purposes the
amount levied for said year; and when an
emergency may compel the creation of a de-
ficiency, the same shall be plainly shown in
the annual statement of county expenses, and
be levied for in the first levy made after its
creation.

Levy money
to redeem.