THEODORE R. MCKELDIN, GOVERNOR 569

forth in Section 120 of this Article, an audit of the income
and disbursements of all water revenues.

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 expira-
tion of the term, or any subsequent term to which he may
be appointed, shall turn over 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 is
hereby declared to be an emergency measure and necessary
for the immediate preservation of the public health and
safety and having been passed by a yea and nay vote,
supported by three-fifths of all the members elected to each
of the two Houses of the General Assembly of Maryland,
the same shall take effect from the date of its passage.

Approved April 6, 1953.