ALBERT C. RITCHIE, GOVERNOR.                  289

value of not exceeding twenty-five thousand dollars in sums of
one thousand dollars ($1, 000. 00) each, said bonds to be signed
by the Mayor of said town and to be countersigned by the
treasurer thereof with the seal of the said town attached, and
to be designated as "Snow Hill Water, Sewer and Street Bonds
of 1931. " Said bonds shall be issued as of July 1, 1931, and
shall bear such rate of interest, not exceeding five per centum
(5%) per annum, as shall be determined by said Mayor and
Council of Snow Hill, which said interest shall be payable
semi-annually on the first days of January and July in each
and every year until the said bonds are paid. Said bonds shall
be registered by the treasurer of said town in a separate book
kept for that purpose and shall be forever exempt from taxa-
tion for State, county and Municipal and other local purposes,
and shall have printed on them a distinct reference to the Act
directing their issue.

SEC. 2. And be it further enacted, That said issue of bonds
shall be numbered consecutively beginning with number one
and shall mature and be payable in the order of their numbers
as follows:

July 1, 1940.......... $2, 000.

July 1, 1941..............    1, 000.

July 1, 1942..............    1, 000.

July 1, 1943..............    1, 000.

July 1, 1944..............    1, 000.

July 1, 1945..............    1, 000.

July 1, 1946..............    1, 000.

July 1, 1947..............    2, 000.

July 1, 1948..............    2, 000.

July 1, 1949..............     2, 000.

July 1, 1950...............    2, 000.

July 1, 1951..............    2, 000.

July 1, 1952..............    2, 000.

July 1, 1953...............    2, 000.

July 1, 1954..............    2, 000.

July 1, 1955..............    1, 000.

$25, 000.

All of said bonds may be sold either at public or private
sale, or sales, as a whole or separately or in groups and in such

place or places and at such time or times as in the discretion
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