72 LAWS OF MARYLAND. [ CH. 40

times and in such amounts as the Mayor and Council shall
order, but no bonds shall be sold by sealed bids, except at
prices, approved of by the Mayor and Council. The tax col-
lector shall deliver said bonds when so sold to the purchaser
or purchasers and receive the money therefor, including any
premiums thereon, and shall report under oath to the Mayor
and Council his proceedings in the premises as soon as possible
after said sale with the name or names of the purchasers to
whom said bonds have been sold and delivered, together with
the amount received on each bond so sold and said money, in-
cluding said premiums, if any, shall be credited by the tax
collector on the books kept for that purpose to the "new elec-
tric light plant fund," to be applied to the payment of such
building plant, equipment and for remodeling the distribution
system of the city electric light plant, and to and for no other
use or purpose. Said fund to be placed and drawn out by the
Board of Street Commissioners of Hagerstown in the manner
provided for accounts for street purposes, in Section One
Hundred and Seventy-Seven of Article 22 of the Code of Pub-
lic Local Laws of Maryland, said bonds shall not be liable to
county or municipal taxation.

SECTION 3. And be it further enacted, That to provide for
the payment of said bonds authorized to be issued by Section
2 of this Act, as they shall mature and for the payment of
interest thereon when due and payable there shall be levied
by the Mayor and Council of Hagerstown, annually upon all
the property in Hagerstown liable to taxation for ten 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 ex-
piration of said ten 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 Hagerstown an amount sufficient to pay the interest on
said bonds, and ten thousand dollars of the principal thereof;
and the Mayor and Council of Hagerstown shall thereafter
levy annually upon all the property liable to taxation in
Hagerstown an amount sufficient to pay ten thousand dollars
of the principal 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 herein provided.

SECTION 4. And be it further enacted, That the Mayor
and Council of Hagerstown shall cause to be kept a careful