ALBERT C. RITCHIE, GOVERNOR. 1481

SEC. 4. And be it further enacted, That for the purpose of
retiring the bonds authorized to be issued by this Act, and the
payment of interest thereon, there shall be levied against all
the assessable property within the corporate limits of the said
Town of Delmar by the Commissioners of Delmar, annually,
so long as any of said bonds are outstanding and not paid, a tax
sufficient to meet the interest or any part of said interest on
said bonds as it becomes due and to pay the principal thereof
when and as they mature, said tax to be determined, levied,
collected and paid over in the following manner: at least 30
days before the tax levying period of each year the said Com-
missioners of Delmar shall then determine the amount neces-
sary to be raised for the ensuing year for the payment of the
interest or such portion thereof and proportionate part of prin-
cipal of all outstanding bonds, the amount to be paid on the
principal of said bonds 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 amounts in
hand applicable to payment of interest and principal on said
bonds, as hereinafter provided, it shall determine the number
of cents per $100 necessary to raise the said amount, and the
said Commissioners of Delmar in their next annual levy shall
levy said tax on all land and improvements and any other prop-
erty assessed for municipal purposes within said Town of
Delmar, which tax shall be levied and collected as the said town
taxes now are, or may be hereafter by 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 said
taxes for the town of Delmar now are. The tax so levied for
the ensuing year shall be collected by the tax collecting authori-
ties, and every sixty days the said tax collector shall remit
the full amount of the tax so collected to the Treasurer of said
town. From the money so received, together with the amount
in hand, to the credit of said bond fund, said Treasurer shall
first pay all interest on said bonds as it matures, and shall then
deposit in some bank or banks in Delmar in his name as a
fund to be known as the "Sewerage Sinking Fund Account, "
the amount so raised for payment of the principal of said
bonds. Should receipts from said taxes or other sources 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 Commis-
sioners of Delmar are authorized to pay the interest on any
bonds it may issue prior to the first tax levying period out of