ALBERT C. RITCHIE, GOVERNOR. 117
CHAPTER 62.

AN ACT to authorize and empower the Mayor and City
Council of Havre de Grace, in Harford County, to issue
bonds, and to use the proceeds arising from the sale
thereof for the purpose of retiring an issue of bonds of
said Mayor and City Council of Havre de Grace, now
outstanding, authorized by Chapter 127, Section 152A,
of the Laws of Maryland of 1902, which bonds mature
on the second day of December, 1934.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and City Council of Havre de
Grace, in Harford County, be and they are hereby author-
ized and empowered to borrow upon the faith and credit of
said City of Havre de Grace the sum of Twenty Thousand
Dollars ($20, 000. 00), and to issue and sell bonds, said
bonds to be signed by the Mayor and countersigned by the
Treasurer of said City, and to be sealed with the seal of
said City. Said bonds shall be known and designated as
"Refunding Bonds, " and shall bear interest at a rate not
exceeding five per cent, per annum, payable semi-annually
on the first days of December and June in each and every
year until said bonds are paid; said bonds shall be exempt
from all State, County and municipal taxation, and shall
have printed on them a distinct reference to the Act author-
izing their issue.

SEC. 2. And be it further enacted, That said bonds shall
be issued in the denominations of One Thousand Dollars
$1, 000. 00) each, payable as to principal thereof in twenty
years from the date of their issue, and shall be redeemed
at the rate of One Thousand Dollars ($1, 000. 00) per year,
and the said Mayor and City Council each and every year
shall proceed to determine by lot which of said bonds are
to be redeemed, and when said bond is thus selected for
redemption, the Mayor and City Council shall giver notice
to the holder thereof by registered mail, if known, and if
the holder is not known, then by advertisement in one or
more newspapers published in said City of the number, of
said bond called in, and when and where it is to be paid,
and interest shall cease on said called in bond from and
after the date fixed for its redemption.

SEC. 3. And be it further enacted, That the said bonds
shall be sold either at public or private sale, and the pro-