1238 LAWS OF MARYLAND [CH. 638

with other sources of electrical supply the municipal elec-
tric lighting and power system consisting of dynamos,
exciters, boilers, transformers, engines, motors, meters,
turbines, poles, pole lines, franchises, and all equipment
belonging thereto, when, in its judgment an adequate and
just price can be obtained therefor and at the same time
proper and adequate terms and arrangements can be made
for the lighting of said Town and supplying it with electric
current and power.

108. (Contract for Sale or Lease) When the Town
Commissioners have received an offer of purchase, lease
or connection with any other source of supply for said
electric system and equipment, which in its judgment is
adequate, it may then enter into a written contract with
said purchasers, lessees or suppliers, to which said contract
a good and sufficient bond of said purchasers, lessees or
suppliers with sureties to be approved by the Town Com-
missioners shall be attached, for the carrying out of the
provisions of said contract of sale, lease or supply of
electrical current, when said sale, lease or connection of
supply of electrical current shall become effective and
enforceable under the provisions of this sub-title as herein-
after set forth.

109. (Proceeds from Sale or Lease) When the sale or
lease of, or contract of supply for electrical current for the
municipal electric lighting and power system of the Town
of Centreville shall be made under the provisions of this
sub-title, the proceeds arising therefrom shall be used by
the Town Commissioners in the following order and
manner:

(a) To pay all expenses and charges incident to said
sale, lease or contract to supply electric current.

(b) To pay all outstanding bonds and indebtedness of
the electric light, heat and power system of the Town.

(c) To pay all other bonds and outstanding indebted-
nesses of the Town.

(d) To invest any and all of the balance after paying
such items as are set forth in the sub-sections (a), (b)
and (c) and use the income derived from said investments
in paying:

1st. The cost of lighting the streets of the Town.

2nd. For the general running expenses of said Town and
for any improvements that the Town Commissioners may
desire to make.