ALBERT C. RITCHIE, GOVERNOR. 501

interest and principal of said bonds, shall be likewise kept by
them as a separate fund

SEC. 4 And lye 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 property
within the corporate limits of Gaithersburg, annually, so long
as any of said bonds are outstanding and not paid, a tax suffi-
cient to meet such part of the interest and 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 before the tax
levying period of each year the Mayor and Council shall de-
termine the amount necessary to be raised for the ensuing year
for the payment of the interest and sinking fund on all out-
standing bonds, the amount to be paid into the sinking 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 applicable to payment
of interest and principal on said bonds, as hereinafter pro-
vided, they shall determine the number of cents per $100 neces-
sary to raise the amount remaining. The Mayor and Council
in their next annual lew shall lew said tax on all land and im-

provements and any other property assessed for municipal pur-
poses within the town of Gaithersburg, which tax shall be
levied and collected as the town taxes now are or may be here-
after by law levied and collected, and have the same priority
rights, bear the same interest and penalties, and in every re-
spect be treated the same as other taxes of Gaithersburg 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 Gaithersburg, in their
name, as a fund to be known as the "Water and Sewerage Sink-
ing 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 proceeds of the sale of said bonds. In order that the prompt
payment of interest and the proper provision for the payment
of the principal of said bonds shall be assured, the prompt and