ALBERT C. RITCHIE, GOVERNOR. 1503

and county taxation. The said bonds shall be so issued that
none of them shall mature later than fifty (50) years from the
date of their issue. The said bonds shall be redeemed as
follows: Fifteen hundred dollars ($1, 500) thereof during each
year for the first ten years after thirty years after the date of
their issue and two thousand dollars ($2, 000) each year there-
after for the remaining ten years.

SEC. 3. And be it further enacted, That when said bonds
shall be executed as herein prescribed, the said commissioners
of Leonardtown shall advertise the same in at least one news-
paper published in the town of Leonardtown, and, if they deem
it advisable, in one newspaper published in the City of Balti-
more, inviting sealed proposals for the purchase of said bonds,
or any part thereof, with the privilege of said the Commis-
sioners of Leonardtown to reject any or all bids. The Com-
missioners of Leonardtown aforesaid may advertise the said
bonds for such length of time as in their discretion is adequate
notice to the public, and may offer all of said bonds for sale at
the same time, and may offer them at different intervals in such
installments and amounts as they may deem advantageous to
said town in carrying on the work of constructing or acquiring
the property for which the same are issued. The money arising
from the sale of said bonds shall be kept as a separate fund by
the Commissioners of Leonardtown, to be exclusively used for
the purpose of this Act, and all taxes, charges and assessments
levied and collected, as hereinafter provided for the payment
of the interest and principal of said bonds, shall be likewise
kept as a separate fund by said Commissioners, and such funds
obtained through sinking fund created shall be deposited in
such banks in the town of Leonardtown as the Commissioners
shall decide.

SEC. 4. And be it further enacted, That the bonds issued
hereunder shall be the direct obligation of the said town and
that for the purpose of retiring the said bonds authorized to
be issued by this Act, and the payment of the interest thereon,
there shall be levied against all the assessable property within
the corporate limits of the said town of Leonardtown by the
Commissioners of Leonardtown, 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 as they mature.

SEC. 5. And be it further enacted, That said the Commis-
sioners of Leonardtown shall provide for each and every prop-