1144 LAWS OF MARYLAND [CH. 557

the name of the Commissioners of Chestertown to an amount
not exceeding $10,000.00 in sums not less than $100.00, to be
signed by the Commissioners of Chestertown under the corpo-
rate seal of said Commissioners, to be designated as "Addi-
tional Fire Equipment Bonds," bearing interest at a rate to
be fixed by the Commissioners of Chestertown, not exceeding
six per centum, payable semi-annually on the first day of July
and the first day oi' January of each year, which bonds shall
be exempt from all County and Municipal taxation in Kent
County, and the due or overdue coupons for interest shall be
received by the Commissioners of Chestertown in payment
of town taxes. Said bonds shall bear date as of July 1st, 1921,
and be payable in sums of $500.00 in each of the years begin-
ning with the first day of July, 1924, and each year thereafter
until fully paid. Said bonds to be numbered consecutively,
and to be redeemed in thy order in which they are numbered,
but said bonds shall be redeemable at the option of said Com-
missioners after six years from the date of issue.

SEC. 2. And be it enacted, That said Commissioners of
Chestertown are authorized and directed to advertise at least
once a week for four successive weeks in the newspapers pub-
lished in Kent County, and one newspaper published in the
City of Baltimore for sealed proposals for the negotiation of
said bonds and on a certain day to be named in said advertise-
ment, the said Commissioners of Chestertown shall, in the
presence of such persons as may be interested in said bonds,
open all bids received and award the bonds to the highest
bidder; provided, that no bids less than par shall be accepted
and reserving the right to reject any and all bids.

SEC. 3. And be it enacted, That the Commissioners of
Chestertown shall create an annual sinking fund beginning
with the year 1920 for the payment of interest and for the
redemption of said bonds, and if said sinking fund cannot be
made sufficient under the present authorised levy or any
future authorized levy to pay the interest on said bonds, and
the one-twelfth part of the said bonded debt as it matures,
the said Commissioners of Chester-town are hereby authorized
to levy and collect annually a tax upon the taxable property
to Chestertown for a sum sufficient to provide for the pay-

ment of any such deficiency of interest on said bonds a,s they
re, and any deficiency on one-twelfth part of the prin-
of said bonded debt as the said bonds mature.