ALBERT C. RITCHIE, GOVERNOR. 1431

to issue bonds therefor. The amount of bonds to be issued
under the authority of this Act to be no greater than is neces-
sary, in the judgment of the said Mayor and City Council, to
purchase or erect and equip an Electric Light and Power
Plant, transmission and distribution system, for said City, and
in no event the amount to exceed the sum of three hundred
thousand ($300, 000. 00) dollars.

SEC. 2. And be it further enacted. That in the event said
loan is approved as hereinafter provided, that the bonds shall
be issued by the Mayor and City Council of Havre de Grace,
State of Maryland, for the purposes aforesaid in such denomi-
nations as the said Mayor and City Council shall deem wise;
and said bonds shall bear interest at the rate of not more than
five (5%) per cent, per annum, payable semi-annually on the
first day of January and July in each and every year until
said bonds are paid; and 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,
and shall be known as the Municipal Electric Light and Power
Bonds and the proceeds from the sale of said bonds shall be
used exclusively for either the purchase or the erection of a
municipal Electric Light and Power Plant, transmission and
distribution system, for said City and vicinity.

SEC. 3. Be it further enacted, That before any bonds shall
be issued under the authority of this Act, the question of die
erection or purchase, as the case may be, of an Electric Light
and Power Plant, transmission and distribution system, for
said City, shall first be submitted to the legally qualified voters
of said City at a regular municipal election or a special elec-
tion called for that purpose: notice of said special election to be
given by advertisement in one or more newspapers printed and
published in Harford County, State of Maryland, at least
twenty (20) days prior to said election, said notice setting
forth the time, place and purpose of said election; and no
bonds shall be issued hereunder unless, at said regular or special
election, a majority of the legally qualified voters of said City
voting on the question, shall vote in favor of the purchase or
erection, as the case may be, of a municipal Electric Light and
Power Plant, transmission and distribution system, for said
City.

SEC. 4. Be it further enacted, That it shall be the duty of
the Mayor and City Council of said City in each and every
year to pay the interest on the outstanding debt created by this