HENRY LLOYD, ESQUIRE, GOVERNOR.

79

SEC. 3. And be it enacted, That said bonds
issued by this act shall be divided in Class A,
of ten thousand dollars, to be due and re-
deemable in ten years; Class B, of five thou-
sand dollars, to be due and redeemable in
fifteen years, and Class C, of ten thousand dol-
lars, to be due and redeemable in twenty
years from the date of their issue.

SEC. 4. And be it enacted, That the said
Commissioners shall in each and every year
levy upon the assessable property of Dor-

When re-
deemable.

chester county such sums of money as may
be necessary to pay the interest on the out-
standing bonds by them issued under the pro-
visions of this act as the same shall fall due,
and in addition to the annual interest they
shall levy and collect each and every year
the sum of one thousand dollars, and after
the year nineteen hundred and one, two thou-
sand dollars, to redeem said bonds, until they

Interest.

shall all be redeemed, and this money so
levied shall be invested as hereafter directed,
and shall not be diverted or used for any other
purpose.

SEC. 5. And be it enacted, That the said
Commissioners shall invest the said amounts
annually levied in the purchase of bonds is-
sued by this act, or in United States bonds, or
deposit the same in some interest paying sav-
ings institution or bank as they may deem
for the best interest of said county, but the
Commissioners shall always purchase the
bonds of the county when offered at par or a

Sinking fund.

premium realized on said bonds at their sale
in preference to the other investments, com-
mencing with Class A, until they are all re-
deemed, then with Class B, until they are all
redeemed, and then with Class C, until they
are all redeemed, and when any of said bonds
shall have been purchased they shall be de-
stroyed by the Clerk of the County Commis-
sioners in the presence of said Commissioners,
and a memorandum of the fact, their class,
number and amount be made on the record of
proceedings of said Commissioners.

Investments.