990 LAWS OF MARYLAND [CH. 491

SEC. 4. And be it further enacted as aforesaid, That for
the purpose of redeeming said bonds at maturity and for
securing the prompt payment of the interest thereon the said
Mayor and Council is hereby authorized and directed to apply
all net income arising from light or heat or light and heat,
rents or charges, after the expenses of any necessary better-
ments or proper repairs are deducted, first to the payment of
the interest on said bonds and secondly to invest the remain-
der, if any there be, in a sinking fund for the payment of
the said bonds as they respectively mature. The coupons on
said bonds shall be receivable by the said Mayor and Council
in payment of taxes due to said town. In the event that the
said rents or charges shall not be sufficient in amount to
pay the interest on said bonds or the principal thereof as it
shall become due the said Mayor and Council shall annually
levy on the taxable property of the said town, such sums of
money as shall in the discretion of the said Mayor and Coun-
cil of Snow Hill be necessary for the prompt payment of the
interest on said bonds and the principal thereof when the
same shall become due, and any surplus on hand at any time
arising from such levy shall be by the said Mayor and Coun-
cil invested in some safe securities as a sinking fund, which
shall not at any time be diverted from the purposes of this
Act.

SEC. 5. And be it further enacted as aforesaid, That the
money arising from the sale of said bonds shall be paid to
the Miayor and Council of said town and by the said Mayor
and Council be deposited in some safe bank and shall only
be drawn therefrom on checks signed by the Mayor and coun-
tersigned by the Secretary and Treasurer; and the said Secre-
tary and Treasurer shall keep in a book for the purpose a
full registry of the bonds sold, the different series, the num-
ber of bonds and the name of the purchaser and the amounts
realized on sale and any transfers and assignments of the
same.

SEC. 6. And be it further enacted as aforesaid, That the
Mayor and Council of Snow Hill shall select, in the discretion
of the said Mayor and Council, some depository in which to
deposit the money necessary for the payment of the principal
and interest of said bonds as they may respectively mature
and become due; provided that the said Mayor and Council
shall select by resolution said depository before issuing said