ALBERT C. RITCHIE, GOVERNOR. 565

(a) To pay all expenses and charges incident to said sale.

(b) The balance of said proceeds to be turned over by the
Commissioners of St. Michaels, with the approval of said Elec-
tric Plant Sale Committee, to some responsible Trust Company
upon such terms and conditions, to be embodied in a written,
agreement, as may be approved by said Commissioners and said
Committee, providing for the investment of said funds by said
Trust Company in acceptable securities, the net income there-
from to be used:

(1) For the retirement of the outstanding Bonds of the
town of St. Michaels as they respectively mature and the pay-
ment of the interest accruing on said outstanding Bonds as the
interest payments severally mature.

(2) Any balance of income remaining to be turned over annu-
ally to the Commissioners of St. Michaels to be used by said
Commissioners for the general expenses of said town.

(c) No part of the principal of said fund shall be used by
the Commissioners of St. Michaels, except such use of said
principal, or any part thereof, be first authorized and approved
by a vote of a majority of the total number of registered voters
of said town at a special election to be called for such purpose,
and the Commissioners of St. Michaels are hereby authorized,
at such time or times as the said The Commissioners of St.
Michaels may desire, to submit to the qualified voters of said
town at a special election to be called by said Commissioners
at a time and place to be designated by said Commissioners, the
question of the particular use desired for all or part of the
principal of said fund; notice of said election shall be given
by publication in some newspaper printed and published in
Talbot County at least three weeks before said election. The
ballots for such election shall be prepared by the Commissioners
of St. Michaels and shall have printed thereon a brief but clear
statement of the purpose for which, the use of such fund, or part
thereof, is desired. Said ballots shall also have printed thereon
the words "For Use of Electric Fund, " with a blank square
opposite the right of said words, and immediately thereunder
shall be the following: "Against Use of Electric Fund, " with
a blank square opposite the right of said words. The voter
shall indicate his choice by marking a cross (X) in one of said
blank squares. The Commissioners of St. Michaels shall ap-
point the necessary officers to conduct the election.

If the number of votes cast in said election "For Use of
Electric Fund" shall equal a majority of the total number of
registered voters of said town of St. Michaels then said fund,
or such part thereof as is desired, may be used by the town of
St. Michaels for the purpose approved by the voters in such