LAWS OF MARYLAND. [CH. 338

Series of not less than Five Thousand Dollars ($5, 000. 00) ag-
gregate par amount thereof each. In the event said bonds are
issued in series the Commissioners of Delmar shall first pro-
vide by general resolution or ordinance for the issuance of all
of said bonds, prescribing the general form and method of pay-
ment thereof, and shall thereafter provide by supplemental
resolutions for the sale or exchange of the several Series of
said bonds as hereinafter provided. Said general resolution
or ordinance shall authorize and empower the President and
Clerk of the Commissioners of Delmar to solicit and receive
from the holders of its outstanding sewer bonds issued pur-
suant to the authority of said chapter 16 of the Acts of 1027,
consents in writing either to the redemption of said bonds at
par plus accrued interest or to the exchange of said bonds,
bond for bond, for the bonds authorized to be issued by this
Act. Whenever consents in writing have been so received from
the holder or holders of at least Five Thousand Dollars
(f5, 000. 00) aggregate par amount of the bonds so issued pur-
suant to the authority of said Chapter 16 of the Acts of 1927,
then the Commissioners of Delmar shall proceed by such sup-
plemental resolution as hereinabove authorized to provide for
the issuance and sale or exchange, as the case may be, of an
equal number of the bonds hereby authorized. If the bonds to
be issued pursuant to any such supplemental resolution are
to be sold and the proceeds thereof used for the redemption of
a like amount of the outstanding bonds issued pursuant to
said Chapter 1(5 of the Acts of 1927, then the Commissioners
of Delmar may provide for the sale of said bonds either by
public sale or by private negotiation, provided always that
none of said bonds shall be sold at less than par. If the bonds
to be issued pursuant to any such supplemental resolution are
to be exchanged bond for bond with the holders of said bonds
issued pursuant to the authority of said Chapter 16 of the
Acts of 1927, then the Commissioners of Delmar may proceed
with such exchange provided that none of said bonds shall
be exchanged for less than par. The Commissioners of Delmar
may issue any such Series of bonds partly in exchange for an
equal number of said outstanding bonds and partly for cash
to provide funds for the redemption of an equal number of
said outstanding bonds if, in its discretion, the issuance of
such Series of bonds in that manner is expedient and for the
best interests of the town, and said Commissioners of Delmar,
if it becomes necessary, may issue a final Series of the bonds
hereby authorized in an amount less than Five Thousand Dol-
lars (15, 000. 00) aggregate par amount thereof. In so provid-
ing for the issuance of said several Series of bonds, the Com-
missioners of Delmar shall designate each Series by a differ-
ent Series letter, and may provide different dates of issue for