602 LAWS OF MARYLAND. [Ch. 428]

the stock of said corporation for a sum not exceeding two mil-
lions of dollars; said stock to be issued from time to time as the
Mayor and City Council of Baltimore shall, by ordinance, pre-
scribe, and to be issued for such amounts, and to be payable at
such time and to bear such rate of interest as the Mayor and
City Council of Baltimore shall by ordinance provide; said
stock shall be sold and issued by the Commissioners of Finance
of the City of Baltimore at the best prices obtainable in their
judgment therefor; and any premiums derived from the sale
thereof shall remain in their hands as part of the sinking fund
hereafter mentioned for the redemption of said stock at matu-
rity. The residue of the money received from the sale of said
stock shall be turned over by them to the Comptroller to be
by him deposited with the City Register, and to be placed to
the credit of a fund to be known as the "New Bridge Fund,"
which shall be exclusively applicable to the cost of carrying the
purposes and provisions of this act into execution, and shall be
chargeable with no other items of cost or expense whatsoever,
and appropriations to defray said cost, based upon the estimate
of the person charged with the duty of doing the work contem-
plated by this act, shall be annually included by the Board of
Estimates in the usual way in the ordinance of estimates, but
said stock shall not 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 the City of Baltimore at such time and place as may
be fixed by said ordinance and be approved by a majority of
votes cast for and against said ordinance at such time and place,
as required by section 7 of Article 11 of the Constitution of
Maryland; if issued pursuant to such approval the Mayor and
City Council of Baltimore shall levy, in each and every year,
upon all property liable to taxation in the City of Baltimore, a
sum sufficient to pay the interest accruing on said stock, and
to create a sinking fund sufficient, with the aid of any premium
on the sale thereof, to redeem said stock at its maturity.

SEC. 5. And be it further enacted, That upon the comple-
tion of the new bridge herein authorized to be constructed, and
the opening of the same to travel as a public highway, the
Mayor and City Council of Baltimore is hereby authorized to
remove, or otherwise dispose of, the present Light Street Bridge,
and, upon such removal or other disposition being made by the
said Mayor and City Council of Baltimore, all the duties or
obligations now resting upon said Mayor and City Council of
Baltimore by reason of any law or ordinance, with reference