ART. 7.] CARROLL COUNTY. 703

and said bonds shall be redeemable at any time after the
expiration of ten years from the date of issue thereof at the
pleasure of the said Burgess and Commissioners of New Wind-
sor, and they shall be redeemed in their consecutive numerical
order, commencing with bond No. 1; at any time when the said
Burgess and Commissioners shall have selected any of said
bonds for redemption in accordance with the provision of this
Act, they shall notify the holders thereof, or, if the holders
thereof are unknown, then the said Burgess and Commis-
sioners shall give notice by advertisement in at least two news-
papers published in Carroll county, Maryland, of the number
or numbers of said bonds so selected for redemption, and when
and where they are to be paid, and interest shall cease on said
called in bonds from and after the date fixed for their redemp-
tion by the said Burgess and Commissioners.

SEC. 3. And be it enacted, That for the purpose of paying
the interest on said bonds by them issued under the provisions
of this Act, as the same shall fall due, and to gradually redeem
and retire such bonds until they shall all have been redeemed
and retired, the said Burgess and Commissioners are hereby
empowered and directed to apply all the net income arising
from water rents, after the expenses of any necessary better-
ments, extensions or increase of water supply, or proper repairs
are made, first, to the payment of the interset on said bonds,
and second, the remainder, if there be any, shall be invested in
a sinking fund to be applied to the payment of the principal
of said bonds, as soon as they shall become redeemable. In
the event that the net water rents shall not be sufficient in
amount to pay the interest on the said bonds and the principal
thereof, as soon as it shall become redeemable, the said Burgess
and Commissioners shall annually, after the issuing of said
bonds, levy on the taxable property of said town a special tax
not exceeding twenty cents on the one hundred dollars, as
shall in their discretion be necessary for the prompt payment
of the interest on said bonds and the principal 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.

SEC. 4. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved March 10, 1908.