66 LAWS OF MARYLAND. [CH. 49

tificates of Indebtedness hereby authorized may be used
for the construction of such building as the Mayor and
City Council of Baltimore shall by ordinance or ordinances
provide.

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 Indebted-
ness in series maturing at stated periods, and may make
payable annually a portion of the principal of said Cer-
tificates of Indebtedness, and any portion or all of said Cer-
tificates 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 consti-
tute a part of the sinking fund created for the purpose of
paying the loan herein authorized, and if said Certificates
of Indebtedness 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 ordinances
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 Balti-
more, and by the municipal agency designated in the
Annual Ordinances of Estimates of the Mayor and City
Council of Baltimore.