HARRY W. NICE, GOVERNOR. 493

may be hereafter by law levied and collected, and have
the same priority rights, bear the same interest and pen-
alties, and in every respect be treated as said taxes for
the Town of North East now are. The tax so levied for
the ensuing year shall be collected by the tax collecting
authorities and every sixty days the said tax collector shall
remit the full amount of the tax so collected to the Presi-
dent and Commissioners of North East. From the money
so received, together with the amount in hand, to the cred-
it of said bond fund, said President and Commissioners of
North East shall first pay all interest on said bonds as they
mature, and shall then deposit it in some bank or banks in
North East or Elkton in their name as a fund to be known
as the "Water and Sewage System Sinking Fund Account, "
if sinking fund bonds are used, or as a fund to be known
as the "Water and Sewage System Bond Account" if serial
bonds are used, 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 other-
wise, such: deficiency shall be added to and collected in
the next year's tax, if sinking fund bonds are used, or
such deficiency shall be made up by a special tax on all of
the property taxed as aforesaid, if serial bonds are used.
The President and Commissioners of North East are au-
thorized to pay the interest on any bonds that they issue
prior to the first tax levying period out of the proceeds of
the sale of said bonds. In order that the prompt payment
of interest and the proper provision for the payment of
the principal of said bonds shall be assured, the prompt
and proper performance of the respective acts and duties
heretofore defined is specifically enjoined, and failure upon
the part of any person, persons, body corporate or agent
to perform the necessary acts and duties hereafter set
forth, to pay over the said funds as required, or to use
said funds or any part thereof for any other purposes
than the payment of the principal and interest on said
bonds, is hereby declared a misdemeanor and punishable
as other misdemeanors are punishable by Section 16 of
this Act.

SEC. 6. And be it further enacted, That whenever the
plans and specifications for. said system of water supply
and sewage disposal for said Town of North East shall
have been completed, and said President and Commission-
ers of North East shall have decided, after opportunity
for a hearing has been given, to proceed with the construc-