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Session Laws, 1936 (Special Session 1)
Volume 577, Page 94   View pdf image (33K)
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94 LAWS OF MARYLAND. [CH. 32

years accounting from their date of issue. Of the balance
of said issue of bonds authorized hereby one hundred
thousand dollars ($100, 000. 00) face amount thereof shall
be designated as Series B and shall be numbered consecu-
tively from No. one (1) to No. one hundred (100), both
numbers inclusive, and shall be issued to mature twenty
years from their date of issue, subject to prior redemption
in the order of their consecutive numbers at par plus ac-
crued interest from the proceeds of the sinking fund here-
inafter provided for. The remainder of said total issue of
bonds authorized hereby, in aggregate face amount not ex-
ceeding forty-seven thousand dollars ($47, 000. 00) shall be
designated as Series C, and shall be numbered consecu-
tively from No. one (1) to No. forty-seven (47), both num-
bers inclusive, and shall be issued to mature twenty years
from their date of issue, subject to prior redemption in the
order of their consecutive numbers at par plus accrued in-
terest from any funds which The Mayor and City Council
of Havre de Grace may allot for that purpose. All of the
bonds authorized hereby shall be issued at the same time
and they shall all bear the same date of issue.

SEC. 2. And be it further enacted by the General
Assembly of Maryland, That said Series B bonds may be
redeemed by the Mayor and City Council of Havre de Grace
in whole or in part at any interest date following the date
of issue of said bonds. Unless the whole amount of said
Series B bonds shall have been previously redeemed, then
at least two weeks prior to any such interest date, it shall
be the duty of The Mayor and City Council of Havre de
Grace to ascertain the amount of money in said sinking
fund available for the redemption of said bonds in the man-
ner hereinafter provided, and thereupon it shall be the duty
of The Mayor and City Council of Havre de Grace to call
for redemption, in the order of their consecutive numbers,
one or more of said bonds, dependent upon the amount of
money so available, so that there shall be one bond redeemed
for each one thousand dollars ($1, 000. 00) of cash in said
sinking fund. Any balance of less than one thousand dol-
lars ($1, 000. 00) thereafter remaining in said sinking fund
shall be permitted to remain there until the next interest
date, to be then used, together with such additions and ac-
cretions as may be made thereto in the interim, for addi-
tional bond redemption in the manner hereinabove pro-
vided. Said Series C Bonds may be redeemed by The Mayor
and City Council of Havre de Grace in its discretion, in
whole or in part at any interest date following the date of

 

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Session Laws, 1936 (Special Session 1)
Volume 577, Page 94   View pdf image (33K)
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