THEODORE R. MCKELDIN, GOVERNOR 1653

be responsible for the safekeeping of said bonds and the
proceeds thereof.

The Mayor and City Council of Taneytown shall sell said
bonds at public auction or by sealed bids, after giving at
least two weeks' public notice thereof in a newspaper pub-
lished at Taneytown and in one or more newspapers pub-
lished in the City of Westminster, and in one or more news-
papers published in the City of Baltimore, under the super-
vision of and at such time and in such amounts as the said
The Mayor and City Council of Taneytown shall order, but
no bonds shall be sold by sealed bids, except at prices ap-
proved by The Mayor and City Council of Taneytown.

The Clerk of said Town shall deliver said bonds so sold
to the purchaser or purchasers thereof, and received the
money therefor, including any premiums thereon, and shall
report under oath to the said The Mayor and City Council
of Taneytown his proceedings in this respect as soon as
possible after said bonds have been sold and delivered, with
the name or names of the purchasers to whom said bonds
have been sold and delivered, together with the amount
received for the bonds so sold, and the said money, includ-
ing said premiums, if any, shall be immediately credited
on the books of the municipality to a special account to be
designated the "Taneytown Sewerage Fund" to be applied
only for the purposes specified in this Act, provided, how-
ever, that any balance of the proceeds of said bond issue
not required for the purposes hereinbefore specified shall
be applied to a sinking fund or for the redemption of said
bonds.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Taneytown shall annually levy upon all
the assessable property liable to taxation in the town of
Taneytown at the regular tax levying period an amount
sufficient to meet and pay the interest on said bonds so is-
sued and outstanding, and to meet and pay the principal
of said bonds as they shall severally become due, from time
to time, which tax shall be levied and collected, and shall
have the same priority rights, bear the same interest and
penalties and in every respect be treated the same as other
municipal taxes now are, but the said amount so levied
and collected shall be kept in a separate fund for the pay-
ment of the said interest and principal and for no other
purpose whatsoever but should there remain in said ac-
count any residue after the payment in full of the principal
and interest of said bonds, the said residue shall be used
and applied by said The Mayor and City Council of Taney-