ALBERT C, RITCHIE, GOVERNOR. 635

Baltimore, inviting sealed proposals for the purchase of said
bonds, or any part thereof, with the privilege of said Com-
missioners of Leonardtown to reject any or all bids. The
Commissioners of Leonardtown aforesaid may advertise the
said bonds for such length of time as in their discretion is
adequate notice to the public, and may offer all of said bonds
for sale at the same time, and may offer them at different in-
tervals in such installments and amounts as they may deem
advantageous to- said town in carrying on the work of con-
structing or acquiring the property for which the same are.
issued. The money arising from the sale of said bonds shall
be kept as a separate fund by the Commissioners of Leonard-
town, to be exclusively used for the purpose of this Act, and
all taxes, charges and assessments levied and collected, as
hereinafter provided for the payment of the interest and
principal of said bonds, shall be likewise kept as a separate
fund by said Commissioners.

SEC. 4. And be it further enacted, That, for the purpose
of retiring the said bonds authorized to be issued by this Act,
and the payment of the interest thereon, there shall be levied
against all the assessable property within the corporate limits
of the said town of Leonardtown by the Commissioners of
Leonardtown, annually, so long as any of said bonds are out-
standing and not paid, a tax sufficient to meet the interest or
any part of said interest on said bonds as it becomes due, and
to pay the principal thereof as they mature, said tax to be
determined, levied, collected and paid, over in the following
manner: at least 30 days before the tax levying period of each
year the said Commissioners of Leonardtown shall then de-
termine the amount necessary to be raised for the ensuing
year for the payment of the interest or such portion thereof
and proportionate part of principal of all outstanding bonds,
the amount to be paid on the principal of said bonds in any
one year to be determined by the usual table of redemption of
bonds by annual deposit in a sinking fund on interest, and
after deducting all amounts in hand applicable to payment
of interest and principal on said bonds, as hereinafter prq-
vided, it shall determine the number of cents per $100 neces-
sary to raise the said amount, and the said Commissioners of
Leonardtown in their next annual levy shall levy said tax on
all land and improvements and any other property assessed
for municipal purposes within said town of Leonardtown,