1212 LAWS OF MARYLAND.

sum of eighty cents for each one hundred dollars of the assessed
value of the said property for the prompt payment of the in-
terest 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 in-
vested 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 the money arising from
the sale of said bonds shall be paid to the Mayor and City
Council of said town and by them be deposited in some Na-
tional Bank in Worcester County, and shall only be drawn
therefrom by check signed by the Mayor and countersigned by
the Treasurer; and the said Mayor and City Council of Ocean
City are hereby authorized and empowered to use said funds
for the purposes and in the proportions as hereinbefore set
out.

SEC, 6. And be it enacted, That the said Mayor and City
of Ocean City shall keep in a book for the purpose a full regis-
try 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 or assignment of the same when requested
by any subsequent purchaser or purchasers.

SEC. 6. And be it enacted, That the Said Mayor and City
Council of Ocean City shall deposit in some National Bank in
Worcester County the money necessary for the payment of the
principal and interest on said bonds as the same may mature
and become due, and shall designate said bank on said bonds
and the coupons thereto attached.

SEC. 7. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 11, 1910.