LLOYD LOWNDES, ESQUIRE, GOVERNOR.

695

semi-annually in each and every year, and dated on the day of
their issue, and the same shall be exempt from county and
municipal taxation.

104 B. That the said bonds shall be issued payable thirty
years from the date thereof and redeemable at any time after
ten years from the date thereof, at the pleasure of the Commis-
sioners of Denton, and the said bonds shall be consecutively
numbered as the same shall be issued.

Maturity of
bonds.

104 C. The said sum of ten thousand dollars, or so much
thereof as may be necessary for this purpose shall be by the said
Commissioners of Denton, used and applied exclusively to the
payment of the costs and expenses of erecting, building, work-
ing, maintaining and keeping in repair water works and the
plant for the same, for the town of Denton, as the said com-
missioners may order and direct.

To erect
water works.

104 D. The said Commissioners of Denton are authorized
and empowered and required to annually levy and collect a
special tax of not exceeding ten cents on every one hundred
dollars of taxable property within the corporate limits of Den-
ton, to pay the interest on said bonds and to gradually redeem
and retire such bonds until they shall all have been redeemed
and retired, and the proceeds of such tax shall be collected
by the said commissioners, and forthwith applied by them to
the redemption of said bonds as they shall become redeem-
able; and the said taxes are hereby in violably dedicated to the
payment of the interest and principal; said tax to be levied
and collected as other taxes for said town are levied and
collected.

Tax to pay
Interest and
principal.

104is. That the Commissioners of Denton be and they are
hereby authorized and empowered to negotiate, sell or dispose
of the bonds hereinbefore provided for, or as many thereof as
they shall deem proper, and with the proceeds thereof to erect
or provide for the erection, building, maintaining and keeping
in repair said water works; provided, however, that no bonds
shall be sold or disposed of for less than theif par value; and
the said Commissioners of Denton are furthermore fully auth-
orized to make all necessary rules and regulations, and to pass
all necessary ordinances, with penalties for their violation, and
to do all other necessary acts for the proper managing, main-
taining and repairing of said water works, and for the pro-
tection thereof, and to condemn all land necessary for the
erection and operating of said water works and the plant
thereof, which condemnation shall be had in the manner pro-
vided for the opening or streets in said town.

Sale of bonds.