138 LAWS OF MARYLAND. [CH. 97

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 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 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, and if said certificates of indebted-
ness are issued in series, the net premiums resulting from
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 ordi-
nances, submit a part of said loan to the legal voters of
said City at different times; and any ordinance or ordi-
nances 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 of the Mayor and City
Council of Baltimore, and by the municipal agency desig-
nated in the Annual Ordinances of Estimates of the Mayor
and City Council of Baltimore.

SEC. 5. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
the immediate preservation of the public health and safety,
and having been passed by a yea and nay vote, supported
by three-fifths of all the members elected to each of the two
Houses of the General Assembly, the same shall take effect
from the date of its passage.

Approved March 10,1947.