EMERSON C. HARRINGTON, GOVERNOR. 1483

Section 345. The Mayor and City Council of Havre de
Grace shall at all times keep and preserve as a sinking fund
for the payment of the principal and interest of the bonds
issued under the two preceding sections, all the money received
by said city from the sale of hotel liquor licensee, as provided
in Section 192 of Chapter 180 of the Act of 1890, and they
shall incorporate into the bonds issued hereunder as aforesaid
so as to make the same a part of the contract between said
city and the purchaser or purchasers of said bonds and secur-
ity for the payment of the principal and interest thereof as
the same shall mature, a pledge of the money authorized and
thereafter to be paid to said city, and which the said city is
or may be entitled to receive under the aforesaid Act, and the
purchasers and holders of said bonds shall have the right to
rely and insist upon the securities so pledged to them; until the
said bonds are fully paid; and in case it shall happen in any
year that the money received by said city under and by virtue
of said Act shall be less than $1, 000, then the Mayor and City
Council aforesaid shall, whenever and as often as such deficit
shall occur, levy upon the assessable property of said city
and collect therefrom a sum of, money, which, together with
the sum received by them for licenses under and by virtue of
the Act aforesaid will amount to the said sum of $1, 000, and
the same shall thereupon be placed in said sinking fund.

Section 348. That Richard H. Smith, Murray Vandiver.
Isaac Hecht, Clarence C. Pusey, Daniel W. Hopkins and
Michael Fahey, together with the Mayor of said city for the
time being and the City Attorney thereof for the time being,
ex-officio, shall be and they are hereby appointed a commission
for the purpose hereinafter mentioned; and said commission
or a majority thereof shall within thirty days of the passage
and approval of this Act, organize by the election of a chair-
man, secretary and treasurer, and shall require the said treas-
urer to give bond in the penalty of $10, 000 for the faithful
performance of his duties as such treasurer. The said com-
mission or a majority thereof is hereby authorized, directed
and required to receive from the Mayor and City Council of
Havre de Grace the bonds hereinbefore authorized and directed
to be issued, and to sell the same upon the best terms possible;
provided the prices at which they are sold shall not be less
than par or their face value, and the proceeds shall be imme-
diately placed to the credit of said commission in a national
bank or banks, at the highest rate of interest obtainable, and