WM. PRESTON LANE, JR., GOVERNOR. 53

municipal election as well as at any general election to be
held in Baltimore City.

SEC. 2. And be it further enacted, That the proceeds
of sale of the certificates of indebtedness hereby author-
ized to be issued, not exceeding the part value thereof,
shall be used for the acquisition, construction, reconstruc-
tion, installation, erection, extension, enlargement, reno-
vation or modernization of, and additions to, public park
buildings, structures, facilities or utilities.

No part of the proceeds of sale of the said certificates
of indebtedness shall be used for or in connection with
the establishment, acquisition or construction of any new
stadium or any facility appurtenant thereto, or for or in
connection with reconstructing, enlarging, extending, im-
proving, renovating, modernizing or adding to the existing
Baltimore Stadium located in Venable Park or any facility
appurtenant thereto.

SEC. 3. And be it 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 pay-
able 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
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.