572

LAWS OF MARYLAND.

Power
to contract for
introduction
of gas, water
or electricity.

to contract with individuals, companies or corporations for
the introduction of gas, water or electricity into said city, and
for the lighting of the streets and alleys thereof; they may
erect or buy any plant for the supplying of gas, water or elec-
tricity to the city and may operate the same; no use shall be
made of the streets of said city by any individual or corpora-
tion for the purpose of a railroad, tramway, telegraph, tele-
phone, electric light or power lines, electric subways or gas or
water conduits, without the consent of the Mayor and City
Council, and the payment of a reasonable annual rental for
said use.

Mayor and
Council
authorized to
borrow money
and to issue
bonds therefor

152A. The said Mayor and City Council of Havre de Grace
are hereby authorized and empowered to borrow on the credit
of said city an amount not exceeding the sum of twenty
thousand dollars and to issue bonds therefor, under the seal
of said city, in sums of not less than one hundred dollars or
any multiple thereof, to be signed by the Mayor and counter-
signed by the treasurer of said city; said bonds are to bear
interest at the rate of five per centum per annum, payable
semi-annually at the First National Bank of Havre de Grace, or
at such other place as the Mayor and City Council shall desig-
nate, on the first day of June and the first day of December in
each year, until the principal is paid or called in, and said bonds
shall be exempt from county and municipal taxation, and

Exempt from
county and
municipal
taxation

shall have printed on them a distinct reference to this Act as
authorizing the issue thereof, and the said bonds shall be
issued to mature not earlier than the first day of June in the
year nineteen hundred and twenty, and said bonds shall not be
sold for less than their par face value.

How proceeds
of the sale of
bonds shall be
applied.

The proceeds of the sale of said bonds shall be applied
first to liquidating the present floating debt of said city. The
balance of said proceeds, if any there be, shall be covered into
the city treasury. After the expiration of five years from the
issue of said bonds the Mayor and City Council may, from
time to time, redeem them or any part of them, and if they
determine to redeem and pay only a part of said issue, they
shall have the right to determine by lot which of said bonds
are to be redeemed, and when said bonds are thus selected for
redemption the Mayor and City Council shall give notice by
advertisement in the several newspapers published in said city
of the number of bonds called in, and when and where they are
to be paid, and interest shall cease on said called bonds from
and after the date fixed for their redemption. The Mayor and
City Council of Havre de Grace shall at all times preserve and