ALBERT C. RITCHIE, GOVERNOR. 1033

SEC. 4. And be it further enacted, That for the purpose
of retiring the said bonds authorized to be issued by this Act,
and for payment of the interest thereon there shall be levied,
by the Mayor and Council, against all of the assessable prop-
erty within the corporate limits of Sykesville, annually, so
long as any of said bonds are outstanding and not paid, a tax
sufficient to meet such part of the interest and a sinking fund
on said bonds as is not met by the assessments hereinafter
provided for. Said tax shall be determined, levied, collected,
and paid over in the following manner: at least 30 days after
the tax levying period of each year the Mayor and Council
shall determine the amount necessary to be raised for the en-
suing year for the payment of the interest and sinking fund
on all outstanding bonds, the amount to be paid into the sink-
ing fund 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 the amounts in hand ap-
plicable to payment of interest and principal on said bonds,
as hereinafter provided, they shall determine the number of
cents per $100 necessary to raise the amount remaining. The
Mayor and Council in their next annual levy shall levy said
tax on all land and improvements and any other property
assessed for municipal purposes within the town of Sykes-
ville, which tax shall be levied and collected as the town taxes
are now or may be hereafter by the law levied and collected,
and have the same priority rights, bear the same interest and
penalties, and in every respect be treated the same as other
taxes of Sykesville now are. From the money so received,
together with the amount in hand to the credit of said bond
fund, the Mayor and Council shall first pay all interest on
said bonds as it matures and shall then deposit in some bank
or banks in Sykesville, in their name, as a fund to be known
as the "Water and Sewerage Sinking Fund Account," the
amount required for payment of the Principal of said
bonds. Should receipts from said taxes and assessments be
inadequate to deposit the principal payment on said bonds,
by reason of defaults or otherwise, such deficiency shall be
added to and collected in the next year's tax. The Mayor and
Council are authorized to pay the interest on any bonds they
may issue prior to the first tax-levying period out of the pro-
ceeds of the sale of said bonds. In order that the prompt pay-
ment of interest and the proper provision for the payment of
the principal of said bonds shall be assured, the prompt and