1006 LAWS or MARYLAND. [CH. 455

Havre de Grace, and providing for the submission of the
question of the issue of said bonds to the legal and quali-
fied voters of said city.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Havre de Grace, in
Harford County, be and they are hereby authorized and em-
powered, in their discretion and subject to the provisions of
section 4 of this Act, to borrow upon the faith and credit of
the said City of Havre de Grace a sum not exceeding fifteen
thousand ($15,000) dollars, 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 '' City Hall
Bonds" and shall bear interest at the rate not exceeding five
per centum (5%) per annum, payable semi-annually on the
first days of January and July 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 authorizing their issue.

SEC. 2. And be it further enacted, That said bonds shall
be so issued that five hundred dollars thereof shall become
due and payable one year from the date of their issue, and
five hundred dollars each and every year thereafter until
the whole amount so issued shall have been paid; and said bonds
shall be sold at public or private sale in such amounts, not less,
however , than five hundred ($500.00) dollars at any one time
and not exceeding in the total the said sum of fifteen thousand
($15,000) dollars, and at such time as the Mayor and City
Council of Havre de Grace, in their discretion, may deem pro-
per. It is especially intended that the power hereby vested
in said Mayor and City Council shall be a continuing power
until the whole fifteen thousand ($15,000) dollars of bonds
shall have been issued and sold.

SEC. 3. And be it further enacted, That the money arising
from the sale of said bonds shall be paid to the Mayor and
City Council of said City and by them be deposited in some
safe bank and shall only be drawn therefrom and used for
the purpose of building or rebuilding a City Hall in said
City. The Treasurer of said City shall keep in a book for
the purpose a full registry of the bonds sold, the number of
said bonds and names of purchasers, the amount realized on the
sale and any transfers and assignments of said bonds.