HERBERT R. O'CONOR, GOVERNOR. 1067

four per centum (4%) per annum, payable semi-annually,
shall all be serial type bonds, and shall all mature in not ex-
ceeding forty (40) years from the date of issue, and shall be
forever exempt from State, County and Municipal taxation.
Said bonds shall be signed by the President of the Commission-
ers, with the seal of the Commissioners attached thereto, al
tested by the Treasurer of Delmar, and if coupon bonds, the
coupons thereon shall be signed by the Treasurer of Delmar,
or a facsimile of his signature shall be stamped, printed, or
engraved thereon. Said bonds when signed and attested as
heretofore directed shall be delivered to the Treasurer of Del-
mar, and the bond of said Treasurer of Delmar shall be
responsible for the safekeeping of said bonds and the pro-
ceeds thereof. The Treasurer of Delmar shall sell said bonds
at public auction or by sealed bids, after giving at least
two weeks public notice thereof in one or more newspapers
published in Wicomico County, and in one or more newspapers
published in the City of Baltimore, under the supervision
of and at such times and in such amounts as the Commission-
ers of Delmar shall order, but no bonds shall be sold by sealed
bids, except at prices approved by the Commissioners of Del-
mar. The said Treasurer shall deliver said bonds so sold to
the purchaser or purchasers thereof, and receive the money
therefor, including any premiums and accrued interest thereon,
and shall report under oath to the Commissioners of Delmar
his proceedings in the premises as soon as possible after said
sale, with the name or names of the purchasers to whom said
bonds have been sold and delivered together with the amount
received on each bond so sold, and said money, including said
premiums and accrued interest, if any, shall be immediately
thereafter deposited by said Treasurer in one or more account
or accounts in some bank or banks, trust company or trust
companies located in Wicomico County, said account or ac-
counts to be designated: "Treasurer of Delmar-Water Fund",
and the funds so deposited shall be applied by the Treasurer of
Delmar only for the purpose specified in this Act, whenever
he shall be directed so to do by the Commissioners of Delmar.

65B. The said Commissioners of Delmar, Maryland, may
if necessary annually levy upon assessable property of said
town an additional tax sufficient to pay the interest on said
bonds and to redeem said bonds as they mature annually; and
the money thus received shall be known and kept as "Treas-
urer of Delmar Water Bond Fund", and shall be applied by the
Commissioners of Delmar, Maryland, to the payment of the
principal and interest of said bonds as aforesaid and for no
other purpose whatsoever, and that said tax shall be collected
as all other taxes are collected in Delmar, Maryland.