The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1906-06-29

school building in the City of Havre de Grace
to properly accommodate the white school
children in said City. a sum of money not
exceeding thirty five hundred dollars in accor-
dance with an aggreement entered into by
said Mayor and City Council and the County
School Commissioners of Hartford County.
SECTION 2. And be it enacted, That for the
purpose of raising the amount necessary for
said contribution, and to repair the Public
Streets in said City, The Mayor and City
Council are hereby authorized and empower
ed to borrow on the faith and credit of said
City an amount not exceeding the sum OF
Five Thousand dollars and to issue bonds
thereon under the seal of said City in sums
of fl We hundred dollars numbered from one to
ten inclus i've, to be signed by the Mayor and
counterSigned by the Treasurer of said City,
said bonds are to bear interest at the rate OF
hve per centum per annum, payable semi
annually at the Citizens National Bank Q f
Havre de Grace, or at such other places as
Mayor and City Council shall designate on
the first day of August and February in each
year until the principal is paid or called in
and said bonds shall be exempt from County
or Municipal taxation, and shall have printed
on them a distinct reference to this act
authorizing the issue thereof; the said bonds
shall be issued to mature not earlier than the
first day OF August 1896. and shall not be
sold for less than their par or face value.
SECTION B. And be it enacted, That after the
expiration 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 tic lermine to redeem and
pay only part of said issue they shall have
the right to determine by lot which of said
ponds are to be redeemed, and when said
bonds are thus selected for redemption the
Mayor and City Council shall give notice by
advertisement in a paper or papers published
in the city of Havre de Grace the number of
the bonds called in and when and where they
are to be paid, and interests shall cease on
said called in bonds from and after the date
SO fixed for their redemption.
SECTION +. And be it enacted. That the
Mayor and City Council of Havre de Grace
shall at all times preserve andkeep as a sink
ing fund for the payment of the principal and
interest of the bonded debt of said City, in
Guiding that which may be issued in pursu-
ance OF this Act all the money which under
Section 1872 of Chapter $50 of the Acts of
1890, they are authorized to receive. and the
said Mayor AMI City Council are hereby
authorized to incorporate into the bonds
issued under and by authority of this Act as
part of the contract between the Corpora
ton of H avre de Grace and the purchaser of
said bonds as security for the payment of the
principal and interest thereof as the same
shall mature, pledge of the money author
lied to be paid to them under said Section
1872 of Chapter $50 of the Acts of 1890, and
the purchasers and holders of said bonds
shall have the right to rely and insist upon
said security pledged to them until the said
bonds are fully paid, and in case it shall hap
pen by reason of the repeal or amendment of
said Section 90 or for any other reason that
in any year or years such portions of said
money shall be less than one hundred and
sixty-six dollars and sixty-six cents, that then
the Mayor and City Council will, whenever
and as often as such deficit shall occur. levy
upon the assessable property of said City
and collect a sum which with the sum re-
ceived by virtue of said Section 1872 Cf any,
will amount to said one hundred and sixty
six dollars and sixty-six cents and place the
same in said sinking fund. and the provisions
of this Section and the obligation of the
Mayor and City Council of Havre de Grace
hereunder shall enure to the benefit of the
present and every future holder of said bonds
and shall be considered as part of the obli-
CATION of said City expressed on said bonds
SECTION ;. And be it enacted, That all
acts or parts OF acts in conflict with this act,
be and the same are hereby repealed.
SECTION &. And be it enacted That this
act shall take effect from the date of it's pas
sage.
approved February 81 COG.
HON. EDWIN WAKEFIELD,
Governor.
HON. CARVILLE u. BENSON.
Speaker of the ouse of Delegates
HON. JOSEPH b. SETH,
President of the Senate.
Office OF the Chief Clerk of the House:
| hereby certify, that the aforegoing is
true copy of an Act of the General Assembly
of Maryland, passed at January Session
1906.
w. A. PERCY,
Chief Clerk OF the House.