EMERSON C. HARRINGTON, GOVERNOR. 1469

less than one hundred dollars nor more than one thousand dol-
lars each, to be signed by the Mayor and countersigned by the
City Treasurer with the corporate seal of said City thereto
affixed; and if registered bonds are issued, said bonds shall be
registered by the City Clerk in a separate book to be specially
provided for that purpose. The said bonds shall be issued at
such time as the Mayor and City Council shall determine; they
shall bear interest at the rate of not more than five per cent,
per annum, payable semi-annually, at such place as the Mayor
and City Council shall designate, beginning six months from
the date of the issue; said bonds shall be payable as to the prin-
cipal thereof in thirty years from the date of their issue and
shall be forever exempt from all County and Municipal taxa-
tion for any purpose, and shall have printed on them a distinct
reference to the Act of Assembly authorizing the issue thereof
and the said bonds shall not be sold for less than their par or
face value. The proceeds of the sale of said bonds shall be
applied first, to paying and liquidating the present floating debt
of said City. And the balance of said proceeds, if any there
be, shall be covered into the City Treasury. After the expira-
tion of ten 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, then they shall proceed 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 or numbers of said bonds
called in, and when and where they are to be paid, and inter-
est shall cease on said called in 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 keep as a sinking fund for the payment of
the principal and interest of all the bonds of said City, includ-
ing those bonds which may be issued in pursuance of this Act,
all the money which under Section one hundred and ninety-
two of Chapter one hundred and eighty of the Acts of eighteen
hundred and ninety, they are authorized to receive, and the
said Mayor and City Council are hereby authorized and em-
powered to incorporate into the bonds issued under authority
of this Act, as a part of the contract between the Corporation
of Havre de Grace and the purchaser of said bonds as security
for the payment of the principal and interest thereof as the
same shall mature, a pledge of the money authorized to be paid