WM. PRESTON LANE, JR., GOVERNOR. 51
redeveloped, altered, improved, held or disposed of as
provided by law.
SEC. 3. And be is 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 principal of said certificates of
indebtedness, and any portion or all of said certificates of
indebtedness may or may not be registered, and said cer-
tificates 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 is-
sued, 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 pay-
ing the loan herein authorized, and if said certificates of
indebtedness are issued in series, the net premiums re-
sulting 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 ordinances,
submit a part of said loan to the legal voters of said City
at different times; and any ordinance or ordinances sub-
mitting 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 Balti-
more, and by any municipal agency or by the Baltimore
Redevelopment Commission as designated 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
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