498 LAWS OF MARYLAND. [CH. 243

said President and Commissioners of North East shall
make such charge as they shall determine to be reasonable,
which charge shall be uniform throughout the Town, of
North East subject, however, to revision annually by the
President and Commissioners of North East. Said charge
shall be paid by all property owners at the Office of the
President and Commissioners of North East before the
actual connection of any pipe on private property is made;
or any owner so desiring may so pay one-fourth of said
charge, in which case the balance shall be paid in three
equal annual installments, such deferred payments to bear
interest at the rate of six per centum per annum, and to be
payable at the same time, in the same manner, and subject
to the same penalties and methods of collection as the front
foot charges provided under Section 7. One-half of the
revenue, above actual cost, derived from such charges, shall
be retained by the President and Commissioners of North
East and as a contingent fund for repairs, replacements, or
any extraordinary expense in the maintenance and opera-
tion of the system of water supply and sewage disposal
under their control. The remaining one-half shall be applied
by the President and Commissioners of North East to the
payment of the bonded debt as hereinafter provided.

SEC. 11. And be it further enacted, That all sums col-
lected by the President and Commissioners of North East
for benefits levied against property for water supply and
sewage disposal construction, and half of all sums collected
by the President and Commissioners of North East for
water and sewer connections, as provided in Section 10,
shall be set aside as a separate fund to be known and desig-
nated as the "Current Interest and Sinking Fund, " if sink-
ing fund bonds are used, and "Current Bond Fund, " if
serial bonds are used, from which fund interest shall be paid
on all outstanding bonds, and the balance, if any, trans-
ferred to the "Water Supply and Sewage Disposal Sinking
Fund Account, " if sinking fund bonds are used, or to the
"Water Supply and Sewage Disposal Bond Account, " if
serial bonds are used, as provided under Section 5. The
President and Commissioners of North East, in order to de-
termine the amount necessary to be levied under Section 5,
shall deduct the amount of their credit in said "Current
Interest and Sinking Fund, " if sinking fund bonds are used,
or in the "Water Supply and Sewage Disposal Bond Ac-
count, " if serial bonds are used, from the whole amount
necessary to be raised in any one year for interest and
sinking fund on outstanding bonds, if sinking fund bonds