PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 93

countersigned by the Town Clerk thereof, attested by the cor-
porate seal of the town, and consecutively numbered from one
to fifty-eight, both inclusive, and shall bear interest at the rate
of not exceeding Five per centum per annum, payable semi-
annually on the first day of April and October in each year,
accounting from April 1st, 1914; and said bonds shall have
pr'nted on hem a distinct reference to this Act authorizing
their issue.

SEC. 4. Be it enacted, That the said bonds to be issued under
this Act shall mature in numerical order to the amount of One
thousand ($1,000) Dollars in each and every year beginning
April 1st in the year 1924 and that the said bonds with interest
thereon shall be paid and cancelled by the said Mayor and
Council of Easton to the amount of One thousand ($1,000) Dol-
lars during each and every year beginning, as aforesaid, until
the whole of the said bonds shall have been paid, and the date
of issue shall be the same on all bonds issued under this Act,
which date shall be April 1st, A. D., 1914, and the same, or so
many thereof as may, from time to time, in the judgment of
the Mayor and Council be deemed necessary, shall be advertised
by the Mayor and Council and sold to the highest bidder for
cash, provided that the same shall be sold for not less than their
par value and accrued interest.

SEC. 5. Be it enacted, That for the purpose of redeeming
said bonds at maturity and for securing the payment of the in-
terest thereon and the interest on the bonds issued by the Eas-
ton Water Company of Talbot County upon its water works
about to be taken over by the town, the Mayor and Council of
Easton shall apply any surplus which may be received from
time to time from the operation of said water works (a separ-
ate account of which shall be kept) to the payment of interest
as aforesaid and the principal of the bonds issued under this
Act as they mature; and should this be insufficient for this pur-
pose, then the Mayor and Council shall levy upon the assess-
able property of the town such additional sum as may be neces-
sary to pay the interest on all of the aforesaid bonds semi-
annually as it shall accrue and One thousand ($1,000) Dollars
of the bonds created by authority of this Act, commencing
April 1st in the year 1924, and the funds thus arising shall not
be used for any purpose other than the operation, maintenance,
repairs, betterments, extension of the system and other legiti-
mate purposes connected therewith, or for the payment of the
aforesaid bonds and interest and any notes which the Mayor