166 LAWS OF MARYLAND. [CH. 73

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 November 10, 1947.

CHAPTER 73.
(House Bill 40)

AN ACT authorizing and empowering the Mayor and City
Council of Havre de Grace to issue and sell coupon bonds
of said City in a principal amount not to exceed One Hun-
dred and Fifty Thousand Dollars ($150, 000. 00) to mature
in part serially over a period of thirty years from their
date of issue, and in part at the end of said thirty year
period, subject to prior redemption, the proceeds to be used
for the construction of public roads, sewers, drainage,
refuse disposal and additions to the water supply system,
or any repair, extension, or alteration thereof, and pro-
viding for the levying of taxes by said Mayor and City
Council to repay the loan and interest. thereon, and pro-
viding that said loan, and every part thereof, and the in-
terest payable thereon, shall remain exempt from State,
County, and municipal taxation.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,, That the Mayor and City Council of Havre de Grace be
and it is hereby authorized and empowered to issue and sell
on its faith and credit coupon bonds in the principal amount
not exceeding One Hundred and Fifty Thousand Dollars
($150, 000. 00), the proceeds of the sale of said bonds to be
used for the construction of public roads, sewers, drainage,
refuse disposal and additions to the water supply system, or
any repair, extension, or alteration thereof, the said Mayor
and City Council to have the absolute right to allocate funds
among the several purposes hereof in whatever proportions
they deem right and proper. The bonds hereby authorized
shall be known as "Havre de Grace Construction Bonds of
1948", shall be in such form and denominations, shall bear
the date of issue, shall be sold either at public or private sale
at not less than par, and shall bear such rate of interest, not
exceeding 4% per annum, as the Mayor and City Council of
Havre de Grace may by ordinance determine. The said bonds
shall be numbered consecutively from Number one (1) to
Number thirty (30), and shall mature and be payable in the
order of the consecutive numbers in annual serial installments