ALBERT C. RITCHIE, GOVERNOR. 267

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 Mayor and Council of Mt. Airy. Said bonds shall
be a lien on all of the property within or outside of the corpor-
ate limits of Mt. Airy, under the jurisdiction of the Mayor and
Council of Mt. Airy.

SEC. 5. And be it further enacted, 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 Mt. Airy, by the Mayor and Council of Mt. Airy,
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 prin-
cipal thereof 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 Mayor
and Council of Mt. Airy 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 said bonds in any one year to be determined by the
usual table of redemption of bonds by annual deposit in a sink-
ing-fund on interest, if sinking-fund bonds are used, or the
amount to be paid on the principal of said bonds in any one
year, if serial bonds are used, to be determined by the amount
of the bond to be matured or redeemed that year, and after
deducting all amounts in hand applicable to payment of inter-
est and principal on said bonds, as hereinafter provided, they
shall determine the number of cents per $100 necessary to raise
the said amount, and the said Mayor and Council of Mt. Airy
in its next annual levy shall levy said tax on all land and im-
provements and any other property assessed for purposes with-
in said town of Mt. Airy, 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 Mt. Airy now are. The
tax so levied for the ensuing year shall be collected by the tax
collecting authorities and every sixty clays the said tax collector
shall remit the full amount of the tax so collected to the Mayor
and Council of Mt. Airy. Prom the money so received, to-
gether with the amount in hand, to the credit of said bond fund,
said Mayor and Council of Mt. Airy shall first pay all interest