LLOYD LOWNDES, ESQUIRE, GOVERNOR.

there be any, the same to be invested in a sinking fond for the
payment of said bonds as they respectively mature; the coupons
on said bonds shall be receivable by said Mayor and City
Council in payment of taxes due to said city. In the event
that the net amount received from said water rents and sewer-
age system, after deducting the aforesaid expenses referred to
in this section, shall not be sufficient in amount to pay the
interest on said bonds and the principal thereof as it shall
become due, the said Mayor and City Council shall annually
levy on the taxable property of said city such sums of money
as shall, in their discretion, be necessary for the prompt pay-
ment of the interest on said bonds and the principal thereof,
when the same may become due, and any surplus on hand at
any time arising from such levy shall be by the said Mayor
and -City Council invested in some safe securities as a sinking
fund, which shall not at any time be diverted from the pur-
poses of this Act.
SEC. 20. And be it enacted, That the money arising from

1249

the sale of said bonds shall be paid to the Mayor and City
Council of said city, and by them be deposited in bank, and
shall only be drawn therefrom on checks signed by the Mayor
and countersigned by the treasurer ; and the said treasurer shall
keep in a book for the purpose a full registry of the bonds
sold, the different series, the number of the bonds, and the
name of the purchaser and amounts realized on sale, and any
transfer and assignments of the same, when requested by any
subsequent purchaser or purchasers.
SEC. 21. And be it enacted, That the said Mayor and City

Money paid
to the
mayor, etc.

Council shall select, in their discretion, some depository in
which, to deposit the money necessary for the payment of the
principal and interest of said bonds as the same may mature and
become due, provided that said Mayor and City Council shall
select by resolution said depository before issuing said bonds,
and shall designate the same on said bonds and on the coupons
thereto attached.
SEC. 22. And be it enacted, That the Mayor and City Coun-

Depository
selected.

cil shall procure the services of a competent engineer to give
them plans and specifications in the erection of water works,
reservoirs, conduits, plugs and necessary equipments for water
works, and for a sewerage system, or for water works alone,
and after receiving the said plans and specifications they shall
invite sealed, proposals, by advertisements for a reasonable
time, for the construction and .completion of said water works,
and sewerage system, or for water works alone, which pro-

79

Procure a
competent
engineer.