6                                  LAWS OF MARYLAND                           [CH. 2

and be approved by a majority of the votes cast at such time and
place, as required by Section 7 of Article XI of the Constitution of
Maryland; and the Mayor and City Council of Baltimore, in sub-
mitting any ordinance or ordinances for the issuance of said cer-
tificates of indebtedness, or any part thereof, to the legal voters of
Baltimore City, may submit and re-submit the game at any municipal
election as well as at any general election to be held in Baltimore City.

SEC. 2. And be it further enacted, That the proceeds of sale of
said certificates of indebtedness hereby authorized to be issued, not
exceeding the par value thereof, shall be used for the acquisition, by
purchase, condemnation or any other legal means, of land or property,
or any rights therein, in the City of Baltimore, and constructing and
erecting on said land or property, or on any land or property now
or hereafter owned by the Mayor and City Council of Baltimore, new
school buildings, athletic and other auxiliary facilities, and for addi-
tions and improvements to, or the modernization or reconstruction
of, existing school buildings or facilities, and for equipment for any
and all new facilities authorized to be constructed or erected by the
provisions hereof, and for architectural or engineering services or
surveys, and any other activities relating to planning for the purposes
above mentioned or relating to planning for future projects of the
same general character which may be constructed out of future loans.

SEC. 3. And be it further enacted, That the Mayor and City
Council of Baltimore may, by ordinance or ordinances, authorize the
issuance of said certificates of indebtedness in series maturing at
stated periods, and may make payable annually a portion of the prin-
cipal of said certificates of indebtedness, and any portion or all of
said certificates of indebtedness may or may not be registered and
said certificates of indebtedness, or any portion thereof, may or may
not have interest coupons attached, all as may be provided by or
under the authority of said ordinance or ordinances, and said cer-
tificates of indebtedness, when issued, shall bear interest at such rate
or rates as may be provided by or under the authority of said ordi-
nance or ordinances. If said certificates of indebtedness are issued
in series maturing at stated periods, and a portion of the principal
is made payable annually, the Mayor and City Council of Baltimore
shall annually raise by taxation the amount of money required to
meet the interest and the portion of the principal payable in each
year. If said certificates of indebtedness are not issued in series, any
premiums realized above the par value of the whole amount of said
certificates of indebtedness shall constitute a part of the sinking fund
created for the purpose of paying the loan herein authorized. If said
certificates of indebtedness are issued in series, the net premiums
resulting from the sale of the entire loan shall be placed to the credit
of any existing sinking funds established for the payment of any
loans of the Mayor and City Council of Baltimore.

SEC. 4. And be it further enacted, That the Mayor and City
Council of Baltimore may, by one ordinance, submit the whole of this
loan to the legal voters of Baltimore City at one time, or it may, by
one or more separate ordinances, submit a part of said loan to the
legal voters of said City at different times; and any ordinance or
ordinances submitting the whole or any part of this loan to the legal
voters of Baltimore City shall provide for the expenditure of the
proceeds thereof in accordance with the provisions of the Charter