976 LAWS OF MARYLAND. [CH. 380

bonds, an amount sufficient to pay the interest on said bonds, so
issued and at the expiration of said ten years from the date of
issue of said bonds, there shall be levied by the Mayor and Coun-
cil of Hagerstown, annually upon all the property liable, to tax-
ation in Hagerstown an amount sufficient to pay the interest on
said bonds and Ten Thousand Dollars of the principal thereof;
and the Mayor and Council of Hagerstown shall thereafter levy
annually upon all the property liable to taxation in Hagers-
town, an amount sufficient to pay Ten Thousand Dollars of the
principal and all interest on said bonds until the said debt is
paid in full, and the said bonds 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 Coun-
cil of Hagerstown shall cause to be kept a careful register of all
the bonds so issued under the provision of this Act, and the
transfer thereof with the name or names of the purchasers
thereof, the date of the issue and the date of the maturity of
each bond, the date of sale and the amount of each bond, and
when a bond is redeemed said bond shall at once be cancelled on
the face thereof, and entry of said cancellation shall be made on
said book of registry.

SEC. 5. And be it further enacted, That all sums of money
collected from the consumers of electricity shall be immediately
paid over to the tax collector of Hagerstown, and the money so
received shall constitute a fund to be known as "the electric
light fund, '' and to be applied to the costs and expenses inci-
dent to the operation, maintenance and extension of said plant,
and to the payment of the interest on said bonds, and other
fixed charges thereon, and toward the carrying out of the pro-
visions of this Act, and such Ordinances relating to said Electric
Light Plant aforesaid, as may be enacted from time to time by
the Mayor and Council of Hagerstown, in conformity with this
Act, and to and for no other purpose or use whatsoever, said
fund shall be drawn on by the Board of Street Commissioners
of Hagerstown, for all purposes whatsoever properly chargeable
to the electric light plant, and the operation thereof by warrant
duly signed by the President of the said Board of Street Com-
missioners and countersigned by the Clerk of the Board.

SEC. 6. And be it further enacted, That to provide for the
sum of money necessary to pay the costs and expenses of con-
ducting and operating said electric light plant, in the event that
the revenues derived therefrom shall not be sufficient for said