WM. PRESTON LANE, JR., GOVERNOR 287

the foregoing, expenditures for any necessary land and
rights-of-way for sewers, and a sewerage disposal plant,
and all necessary engineering surveys, plans, drawings,
and specifications needed to enable the Town to make said
improvements or to contract therefor. The necessary costs
incident to the issuance of the bonds hereby authorized
shall likewise be treated as a part of the cost of said
improvements. IN THE EVENT THAT THE TOWN OF
NORTH BEACH AFTER THE COMPLETION OF THE
WORK ON THE SEWERAGE SYSTEM AS SPECIFIED
HEREINABOVE IN THIS SECTION SHALL HAVE
ANY MONEY OR MONIES REMAINING FROM THE
SUM SO BORROWED, SUCH MONEY OR MONIES
MAY IN THE DISCRETION OF THE TOWN BE AP-
PLIED TO THE DEVELOPMENT OF A WATER SUP-
PLY FOR SAID TOWN AND FOR THE CONSTRUC-
TION AND IMPROVEMENT OF A WATER DISTRIBU-
TION SYSTEM IN SAID TOWN.

SEC. 2. And be it further enacted, That said bonds, and
the coupons attached thereto, shall be in such form and de-
nominations and shall be sold, executed and delivered in
such manner as the Town may from time to time decide,
such decision, however, to be made with respect to each
particular group of bonds sold, prior to the delivery there-
of, by one or more legally adopted ordinances. Such bonds
shall be dated, shall bear interest at such rate or rates not
exceeding five per centum (5%) per annum, payable semi-
annually, shall mature at such time or times not exceeding
forty (40) years from their respective date or dates of is-
sue as may be determined in said ordinances above re-
ferred to, and said bonds, or any of them, may be made re-
deemable before maturity, at the option of the Town, at
such price or prices and under such terms and conditions
as may be fixed by the Town in the ordinance or ordinances
adopted prior to the delivery of the bonds. The principal
and interest of such bonds may be made payable in any
lawful medium, and the Town may fix the place or places
of such payment, which may be at any bank or trust com-
pany within or without the State. In case any officer whose
signature shall appear on any such bonds or the coupons
attached thereto shall cease to be such officer before de-
livery of such bonds, such signature shall, nevertheless, be
valid and sufficient for all purposes in the same manner
as if he had remained in office until delivery. Provision
may be made by the Town for the registration of any such
bonds in the name of the owner or owners thereof as to
principal alone, and, also, as to both principal and interest,