688 LAWS OF MARYLAND.

empowered to issue bonds in the name of the Commissioners of
Greensboro in sums not less than one hundred dollars ($100.00),
nor more than one thousand dollars ($1,000.00), to be signed by
the president and clerk of said Commissioners, attested by the
seal of the said Board of Commissioners, to the amount of twenty
thousand dollars ($20,000.00), or so much thereof as may be
necessary for the purpose of erecting, building, working, main-
taining and keeping in repair water works and a plant for same
in said town of Greensboro, bearing interest at not more than
six per centum per annum, payable semi-annually in each and
every year and dated on the day of their issue, the same to be
exempt from county and municipal taxation in Caroline County.

SEC. 2. And be it enacted, That the said bonds shall be issued
payable and redeemable thirty years from the date thereof and
shall be consecutively numbered as the same shall be issued.

SEC. 3. And be it enacted, That the said sum of twenty
thousand dollars, or so much thereof as may be necessary for
that purpose shall be by the said Commissioners of Greensboro,
used and applied exclusively to the payment of the costs and
expenses of erecting, building, working, maintaining and keep-
ing in repair water works and the plant for the same in the
Town of Greensboro as the said Commissioners may order and
direct.

SEC. 4. And be it enacted, That the said Commissioners of
Greensboro are authorized and empowered and required to an-
nually levy and collect a special tax of not exceeding fifty cents
on every $100.00 of taxable property within the corporate
limits of Greensboro, to pay the interest on said bonds and in
addition thereto to create a sinking fund sufficient to enable the
said Commissioners of Greensboro to. redeem and pay off all of
the bonds issued by them under this Act, and the proceeds of
such taxes shall be collected by said Commissioners and applied
by them to the payment and redemption of said bonds when
they shall become payable and redeemable in accordance with
Section 2; and the said taxes are hereby inviolably dedicated
to the payment of interest and principal; said taxes to be levied
and collected as other taxes in said town are levied and collected.

SEC. 5. And be it enacted, That the money for the sinking
fund levied annually as provided in the preceding Section, shall
be deposited by the Commissioners of Greensboro in such bank
or banks in Caroline County as shall be designated by them,
having a due regard in the said selection of the safety of said