HARRY W. NICE, GOVERNOR. 511

sale. Said bonds when issued shall be signed by the Bur-
gess, attested by its Treasurer, and the coupons attached
thereto shall be authenticated by the engraved, lithographed
or printed signature of the Treasurer of said municipal cor-
poration.

SEC. 4. And be it further enacted, That the Burgess and
Commissioners of Walkersville may also provide by ordi-
nance, or ordinances, for the registration of any bonds au-
thorized to be issued under this Act, as to the principal
thereof, in the names of the owners thereof, in the event the
owners desire to have said bonds registered. Any bonds
issued under this Act which are redeemed and paid off
shall be cancelled.

SEC. 5. And be it further enacted, That the Burgess and
Commissioners of Walkersville is hereby authorized and
directed to apply the available net receipts derived from
said municipal water system and to levy all necessary taxes
upon the taxable property of said corporation, for the pay-
ment of the interest on said bonds and for the payment of
the principal thereof, as the same shall fall due and become
payable. The bonds hereby authorized to be issued under
this Act shall be issued according to what is known as the
serial annuity plan, and a certain number of said bonds shall
fall due and become payable at stated periods, at which
times they shall be paid off and redeemed, in the manner to
be provided by ordinance or ordinances of the Burgess and
Commissioners of Walkersville; provided that the bonds
authorized to be issued under this Act shall not extend over
a period of more than twenty years from the date of the is-
suance of said bonds. The sinking funds of any bonds of
said municipal corporation may be invested in the bonds
hereby authorized to be issued. Said bonds when issued
shall be known as "Water Bonds of the Corporation of Wal-
kersville. " The entire faith and credit of the Burgess and
Commissioners of Walkersville is hereby authorized to be
pledged for the payment of the interest and principal of
said bonds, as the same shall fall due and become payable.

SEC. 6. And be it further enacted, That upon the pur-
chase of The Walkersville Water Company by the Burgess
and Commissioners of Walkersville, all of the capital stock,
property, real and personal, rights, franchises, other as-
sets and all of the powers, privileges and authority con-
ferred upon The Walkersville Water Company as set out in
its Charter recorded in the office of the State Tax Commis-