The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1910-05-13
HAVRE DE GRACE BOND
ING BILL.
| Published by Authority !

AN ACT tn repeal Section 176.A oi
Chapter 3 ii the Code oi Public Local
Ltws Of MARYLAND as enacted by the
Act ui 1902. Chapter l27. and to re
enact the same with amendments, and
10 add certain new sections to said
Article to I've known AN Sections HE'D.
i75E, l75,F, 175.G. i75 II. and
1851
STCTIuN |. he it enacted by the Gen
erhl Assembly Of MARYLAND. that Section
l75 A OF Chapter Is of the Code OF Pub.
liz Local Laws Of Maryland as enacted
by the Act Of 1902, Chapter l27, be and
the same IL hereby repealed and rc.enact.
ed SO as to read rs hereinafter set forth.
and to aid certain new sections to said
Article to lie known ns Sections l75 u
l74.E, l76 y, It's G, 175 IT, and It's
to read AS hereinafter set forth.
l75.A. Whenever the Mayor and City
Council Of Ilavrc lie Grace. having first
obtained the approval and consent Of "A
majority 81 the legally qualified voters Of
said city ns herein provided, shall deter.
mine to purchase or erect any gas plant,
electric light plant, water plant or sys-
TEN Of sewers for said city, they are here.
by authorized and empowered to borrow
on the credit Of the said city "A sum Of
money necessary for such purchase or
erection and to issue bonds therefor, and
said bonds shall he issued In the manner
and under the same terms and conditions
AZ to form, maturity, redemption, pay.
ment, sinking fund and other particulars
as in this Article provided for the issue
Di bonds for the liquidation VI the pres.
rnt floating Indebtedness oi said city;
provided, however, that the total bond.
ed and floating indebtedness of said city
shall at no time exceed five per ccntum oi
the taxable basis OF said city.
| It's ID. The Mayor and City Council
Of Iiavrc de Grace shall forthwith, upon
the passage and approval Of this Act,
issue bonds to An amount not to exceed
twent y.scven thousand dollars. Said
| bonds shall lie for sums Of not less than
| 500. nor more than 81 900 each, and
shall lie signed by the Mayor and coun.
tcrsigncd by the Treasurer of said city,
with the corporate seal Of said city aiilr.
ed thereto, and shall bear interest at the
rate OF five per cent per annum. payable
semi annually on the first days Of Decem.
her and June in each year until the prin.
cipal il paid and said bonds are called in,
'
municipal and county taxation In Har.
ford county, and shall have printed on
them an explicit and distinct reference t.
this Act as authorizing the issue thereof
and shall mature not earlier than the
first day Of May In the year 1890. When
issued the said bonds shall he forthwith
delivered to the Commission named in
this Act, to he used by said Commission
A.. A.
and the provisions Of Sections l75 and
175.A shall not apply to the bonds ISSUED
under this section.
l75.E. After the expiration Of ter
years from the date Of the issue of Oh,
bonds authorized. in the preceding sec
ton, the Mayor and City Council MAY
from time to time redeem them, and i
they desire to redeem or pay off part
thereof. they shall determine by lot which
bonds are to I've so redeemed, the Mayor
and City Council shall give notice by ad
yertising In two ne wspapers published IL
said city II so many Of the number 0i
numbers Of the said bonds 50 to be re
deemed or called in and when and " her,
the same are to be paid, and the iutereSt
on said bonds so selected and notified t.
be called in and redeemed shall ceas,
from and after the date fixed for their re
demptiOn.
l75R. The Mayor and City Council
Of Havre de Grace shall at all tunes keel
and preserve a sinking fund for the pay
ment Of the principal and interest of tn,
bonds issued under the two preceding
Sections. all the money received by said
city from the sale Of hotel liquor licenses
as provided in Section 1872 Of Chapter
1870 of the Act Of 1890. and they shall in
corporate into the bonds issued hereun,
! der as aforesaid 90 as to make the same