ALBERT C. RITCHIE, GOVERNOR. 291

SEC. 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
the interest thereon when due and payable, there shall be
levied by the Mayor and Council of Hagerstown, annually
upon all the assessable property in Hagerstown liable to taxa-
tion for a period of five years after the date of the issue of
said bonds an amount to pay the interest on said bonds so
issued, and at the expiration of five 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 Thousands of 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 thou-
sand dollars of the principal and all the interest on said bonds
until the said debt created under this Act is paid in full, and
the said bonds when so issued shall be made to fall due so as
to be payable as herein provided.

SEC. 4. And be it further enacted, That the Mayor and
Council of Hagerstown shall cause to be kept a careful regis-
ter of all the bonds so issued under the provisions of this Act
and the transfer thereof, with the name or names of the pur-
chasers thereof, to date of issue and the date of maturity of
each bond, the date of sale and the amount of each bond. The
said bonds may be registered and re-registered if the holder
thereof so desires and a record thereof shall be entered upon the
Register to be kept for that purpose and shall remain payable
to bearer or the registered holder thereof if registered, but
said registration or re-registration thereof shall in nowise affect
the negotiability of the coupons attached to said bonds which
shall remain at all times payable to bearer, and when a bond
is paid said bond shall at once be cancelled on the face thereof
and an entry of said cancellation shall be made on the page
of the Register where said bond is registered, and when the
coupons on the said bonds are paid, the Tax Collector shall
stamp the same as paid on each coupon and return the same
to the Mayor and Council of Hagerstown who shall destroy
the same.

SEC. 5. And be it further enacted, That the provisions
of this Act shall not become effective unless the same when sub-