ALBERT C. RITCHIE, GOVERNOR. 727

of said corporation to an amount not exceeding seven million
dollars ($7, 000, 000. 00), said certificates of indebtedness to be
issued from time to time as the Mayor and City Council of
Baltimore shall by ordinance provide, and to be issued for such
amounts and to be payable at such times as the Mayor and
City Council of Baltimore shall by ordinance provide; but no
such certificate shall be issued in whole or in part, unless the
ordinance of the Mayor and City Council of Baltimore pro-
viding for the issuance thereof shall be submitted to the legal
voters of Baltimore City at such time and place as may be
fixed by said ordinance and be approved by a majority of the
votes cast at such time and place as required by Section 1 of
Article 11 of the Constitution of Maryland.

SEC. 2. And be it further enacted, That the proceeds of the
certificates of indebtedness not exceeding their par value here-
by authorized to be issued shall be used for the purpose of de-
fraying the cost and expenses of the following public improve-
ments, viz.:

1. The proceeds of five million dollars ($5. 000, 000. 00) of
said certificates of indebtedness, or so much thereof as may be
necessary, shall be used for condemning, opening, widening,
straightening, closing, grading and paving streets, avenues and
alleys in Baltimore City.

2. The proceeds of two million dollars ($2, 000, 000. 00) of
said certificates of indebtedness, or so much thereof as may be
necessary, shall be used for the construction of necessary
bridges, the repairing of existing bridges and the abolishing of
grade crossings in Baltimore City.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Baltimore may by ordinance authorize the is-
suance of said certificates of indebtedness in series, maturing
at stated periods, and may make payable annually a propor-
tion of the principal of said certificates of indebtedness; and
any portion or all of said certificates may be registered, or not
registered, and said certificates or any portion thereof, shall
have interest coupons attached, or said certificates, or any por-
tion thereof shall not have interest coupons attached, as may
be provided by or under the authority of said ordinance; and
said certificates of indebtedness when issued shall bear interest
at such rate or rates as may be provided by or under the
authority of said ordinance. If said certificates are issued in
series maturing at stated periods, and a proportion of the prin-
cipal is made payable annually, the Mayor and City Council