132

LAWS OF MARYLAND.

secondly, as to the remainder, if there be any, to be invested
in a sinking fund to be applied to the payment of the princi-
pal of said bonds as soon as they shall become redeemable.
The coupons on said bonds shall become receivable by the said
Burgess and Commissioners in payment of taxes due said town
as soon as they become due and payable. In the event that
the said water rents shall not be sufficient in amount to pay
the interest on said bands or the principal thereof as soon as
it shall become redeemable, the said Burgess and Commission-
ers shall, annually, levy on the taxable property of said town,
such sums of money, not exceeding fifteen cents on the hun-
dred dollars, as shall, in their discretion, be necessary for the
prompt payment of the interest on said bonds and the princi-
pal thereof, when the same may become redeemable; and any
surplus on hand at any time, arising from such levy, shall be,
by the said Burgess and Commissioners, invested in some safe
securities as a sinking fund, which shall not, at any time, be
diverted from the purposes of this act.

Proceeds from
sale of bonds,

SEC. 6. And be it enacted, That the money arising from
the sale of said bonds shall be paid to the Burgess and Com-
missioners of said town, and by them deposited in some safe
banking institution in Taneytown, Maryland, and shall only be
drawn therefrom on checks signed by the clerk and treasurer
and countersigned by the Burgess; and the said clerk and treas-
urer shall keep in a book for the purpose, a full registry of
the bonds sold, the number of the bonds and the name of the
purchasers and amounts realized on sale.

Engineer to
be employed,

SEC. 7. And be it enacted, That the said Burgess and Com-
missioners shall procure the services of some competent water
engineer to give them plans and specifications in the erection
of water works, reservoirs, conduits, plugs, and all necessary
equipment for proper water works and a sufficient supply of
water; and, after receiving the said plans and specifications,
they shall invite sealed proposals by advertisement for a reas-
onable time for the construction and completion of said works,
which proposals shall be sent in sealed envelopes, addressed to
the said Burgess and Commissioners, and by them shall be
publicly opened on the day named in said advertisement. Said
proposals shall set forth the amount of money for which the
parties proposing will construct such works according to the
plans and specifications submitted, and the time when said
water works will be completed; and the said Burgess and
Commissioners may reject any and all bids, or award the con-
tract to any responsible bidder therefor, at their discretion,