112 LAWS OF MARYLAND. [CH. 56

terest thereon when due and payable, there shall be levied by
the Mayor and Council of Hagerstown anmially upon all the
property in Hagerstown liable to taxation for five years after
the date of the issue of said bonds an amount sufficient to pay
the interest on said bonds so issued, and at the expiration of
said five years from the date of the issue of said bonds there
shall be levied by the Mayor and Council of Hagerstown
annually upon all the property liable to taxation in Hagers-
town an amount sufficient to pay the interest on said bonds
and two thousand dollars of the principal thereof; and the
Mayor and Council of Hagerstown shall thereafter levy an-
nually upon all the property liable to taxation in Hagerstown
an amount sufficient to pay two thousand dollars of the prin-
cipal and all interest on said bonds until the said debt is paid
in full, and the said bonds so issued shall be made to fall
due so as to be payable as hereinafter provided.

SECTION 4. And be it further enacted, That the Mayor and
Council of Hagerstown shall cause to be kept a careful regis-
try of all the bonds so issued under the provisions of this Act
and the transfer thereof with the name or names of the pur-
chasers thereof, the date of the issue and the date of the
maturity of each bond, the date of sale and the amount of
each bond and when a bond is redeemed said bond shall at
once be cancelled on the face thereof and an entry of said
cancellation shall be made on said book or registry.

SECTION 5. And be it further enacted, That the Park Com-
mission of Hagerstown shall have power and authority to
adopt such rules and regulations governing the management
of said lake as it may deem necessary, and also the power to
enter into contract with persons or corporations, upon the ap-
proval of the Mayor and Council of Hagerstown, for the pur-
pose of raising revenue thereon, and all such sums of money
derived from such contract shall be placed in the hands of the
Tax Collector of Hagerstown and by him credited to the
Park Fund, the same to be paid out by him only on warrants
signed by the chairman of the Park Commission, attested by
its secretary for the purposes herein set forth.

SECTION 6. And be it further enacted, That to provide for
the sum of money necessary to pay the costs and expenses
of conducting and operating said lake, in the event that the
revenues derived therefrom shall not be sufficient for said
purposes, the Mayor and Council of Hagerstown is hereby au-