LLOYD LOWNDES, ESQUIRE, GOVERNOR.

the par value of five hundred dollars each shall constitute
each series ; said bonds to bear interest not exceeding six
per cent, as determined by said Commissioners, payable on the
first days of January and July in each year, and said bonds
shall have attached to them coupons for the interest semi-
annually to accrue, which coupons shall be receivable for town
taxes, and when so received or when paid shall be immediately
destroyed, and the principal shall be due and redeemable in
twenty years from date of issue of each series that may be
issued respectively ; said bonds shall be signed by the president
of the Board of Commissioners of Cristield, sealed with the
seal of said corporation, and attested by the clerk thereof; and
the faith and assessable property of the said town are hereby
pledged for the payment and redemption of the principal and
interest of the said bonds ; said bonds shall be exempt from
county and municipal taxation, but the Commissioners shall
not dispose of any of said bonds below their par value. Said
bonds shall be registered by the clerk of the Commissioners of
Cristield in a book specially provided for that purpose, and
shall have on them a distinct reference to the Act of Assem-
bly authorizing their issue.

92 B. The County Commissioners on the first day of Janu-

807

ary, 1899, and annually thereafter, until maturity, are hereby
directed to pay to the Commissioners of Cristield the sum of
eight hundred dollars, and in addition thereto, the Commis-
sioners of Crisfield are authorized in each any every year to
levy and collect a special tax in addition to the taxes hereto-
fore authorized, not exceeding ten cents or so much as is neces-
sary on every one hundred dollars' worth of property of all
kinds and descriptions, subject to assessment and taxation
within the corporate limits of Cristield, for a sinking fund to
pay the interest on the outstanding bonds issued by them, and
to gradually redeem and retire said bonds until they shall have
been redeemed and retired ; and the proceeds of such taxes
shall be paid to said Commissioners, and forthwith applied by
them to the redemption of said bonds when and as they become
redeemable; and the proceeds of said taxes and said payments
are inviolably pledged to the payment of the principal and
interest of said bonds. The moneys paid to the Commission-
ers of Cristield, and arising trom the extra levy hereby pro-
vided for, shall be applied first, to the payment of the interest
semi-annually to accrue, and secondly, as to any balance, shall
be invested by the Commissioners of Cristield, and kept as a
sinking fund for the payment of the said bonds as they shall

Create a
sinking:
fund.