352 JOURNAL OF PROCEEDINGS [Feb. 24,

proposed Public Parks," shall certify to the Register, under
their respective hands, that they have purchased the site or sites
for a park or parks, describing the same in their said certifi-
cate, and stating the price agreed to be paid therefor and the
terms of sale, it shall be the duty of the said Register to
issue and deliver to the said Commission certificates of stock
of the Mayor and City Council of Baltimore, in the usual
form, redeemable at the end of thirty years from the date
thereof, and designated on the face of the certificate as "Pub-
lic Park Stock," for the amount of said purchase money, and
in accordance with the terms of sale; which certificates of
stock shall be delivered to the vendor or vendors of such site
or sites, by the said Commissioners, upon the conveyance to
the Mayor and City Council of Baltimore of the property so
purchased, and after the Counsellor of the city sliall have
certified to the sufficiency of the title or titles thereof; and
should the said Commission not be able to complete the pur-
chase of said site or sites at one time, so as to be obliged to
make several certificates to the Register, the same proceedings
as those just mentioned shall be had in each and every case.

Section. 2. That the revenue derived and to be derived by the
Mayor and City Council of Baltimore from the City Passenger
Railways, is hereby pledged and set apart for the payment of
the interest on the certificates of stock to be issued under this
ordinance.

Section 3. That one-fifth of the revenue aforesaid, re-
maining after the payment of the interest aforesaid, shall be
invested by the Register in the stock of the city of Baltimore,
as a sinking fund for the redemption of the stock created by
this ordinance.

Section 4. That the four-fifths of said remaining revenue
shall be paid by the Register on the order of the said com-
mission, as the said revenue shall be received for the improve-
ment and maintenance of the Park or Parks aforesaid; and

Whereas, If the report of the Committee aforesaid,
should be adopted, and Acts of the General Assembly be
passed in accordance therewith, the faith ol the city pledged,
as hereinbefore stated, would be flagrantly violated, the means
of paying the interest upon the said Public Park Stock se-
riously impaired, and the final redemption thereof rendered
uncertain and insecure, and the revenue of said Park Com-
missioners diminished to such an extent as to retard and .con-
tract their endeavors to afford our citizens the benefits they
have the right to enjoy; which Acts, if so passed, would be
unconstitutional and void, as impairing the obligation of con-
tracts; and

Whereas, The said Baltimore City Passenger Railway