946 LAWS OF MARYLAND. [CH. 542

128. After repairs, maintenance and running expenses
are paid out of the water rents for said water works, all
surplus revenue from said waterworks accruing from year
to year shall constitute a sinking fund, which said Mayor
and Council is hereby directed to create and maintain for
the payment of interest and for the redemption of all out-
standing water bonds when and as the same may be pay-
able and redeemable, and any excess thereof may be ex-
pended for any extraordinary expenses in maintaining and
improving said waterworks. And, should said water rents
or revenues be insufficient to pay the interest on, and a
sum sufficient for the redemption of, said bonds as and
when the same may be payable and redeemable, then the
Mayor and Council of Chestertown is hereby authorized
and directed to levy and collect annually a tax upon the
taxable property in Chestertown for a sum as will, with
the net water rents or revenues from said waterworks,
provide for the payment of the principal and interest on
said bonds.

129. All bonds provided for in this Act shall be given
to the State of Maryland, with surety to be approved by
the Mayor and Council of Chestertown, with the condition
that the obligor shall well and faithfully execute the duties
of the office to which he may be appointed, and at the ex-
piration of the term, or any subsequent term to» which he
may be appointed, shall turn over to his successor, or to
the Mayor and Council of Chestertown, all the property,
money, books and papers belonging to his office or to the
Mayor and Council of Chestertown, and everything else
pertaining to the office. The bonds provided for in this
Act shall be by the Clerk of the Circuit Court for Kent
County, Maryland, recorded, and returned to the Mayor
and Council of Chestertown and the expense of recording
them, together with the premiums paid surety companies
to obtain them, shall be paid out of the funds or revenues
of said Water rents.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1941.

Approved April 28, 1941.

CHAPTER 542.

(Senate Bill 432)

AN ACT to repeal and re-enact, with amendments, Section
175 of Article 33 of the Annotated Code of Maryland