EMERSON C. HARRINGTON, GOVERNOR. 89

SEC. 2. And be it enacted, That the said bonds shall be
issued in serial numbers, from one to the concluding serial
number, and shall be redeemable and payable as to the first
Twenty-five Hundred Dollars ($2, 500. 00) in six years from
the date of their issue, and so on at the rate of Twenty-five
Hundred Dollars ($2, 500. 00) on the first day of January, 1927,
and the payment thereof shall be in the order of their serial
numbers, beginning with the first serial number and thus con-
tinuing in consecutive order until the whole are paid; should
they all be printed with the full number of coupons for the
semi-annual interest required to be paid on those last maturing,
the President and Commissioners of said town of Chesapeake
City shall cut from said bonds and destroy all coupons that
mature later than the date limited for the redemption of any
such bonds, and the said bonds shall be sold by sealed bids,
for which the said President and Commissioners of said town
shall advertise in some newspaper published in the City of Bal-
timore and also in one or more local newspapers published in
Cecil County, and said advertisements shall state when the said
bids shall be publicly opened in the office of the President and
Commissioners of said town of Chesapeake City; but none of
said bonds shall be sold for less than their face value.

SEC. 3. And be it enacted, That for the purpose of paying
the interest and redeeming bonds as they become due, the
said President and Commissioners of Chesapeake City, annu-
ally, shall levy upon the assessable property of said town of
Chesapeake City, the sum of Twenty Cents (20c) on each One
Hundred Dollars ($100. 00) as a separate item aside from the
levy of the current expenses of said town of Chesapeake City,
and the interest on said bonds shall be payable on the presenta-
tion of said coupons as they may fall due, the coupon or
coupons as presented and paid shall be immediately burned and
destroyed by the President and Commissioners of said town
and as the said bonds mature and are redeemed, they shall
similarly be delivered and destroyed.

SEC. 4. And be it enacted, That the money arising from the
sale of said bonds shall be kept as a separate fund for the
purpose of this Act, and the Secretary of said Commissioners
shall keep a full register of said bonds, with the names of the
purchasers, the amount realized on sales and the dates of the
maturity of the several bonds, by their serial numbers.