Sec. 5. Annexed property not to be taxed for bonded indebtedness.
   That the property lying within the said Atlantic Township annexed as provided in this act shall not be taxed to meet any part of such bonded indebtedness as may be upon the County of Dare at the time of annexation, and said Atlantic Township shall be in no way liable for said bonded indebtedness.
(Pub.-Loc. Laws 1919, ch. 163, § 5.)