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and City Council of Baltimore shall by ordinance prescribe ;
provided, however, that not more than $1,000,000 of said
stock shall be issued in any one year, and to be payable at such
times and to bear such rate or rates of interest as the Mayor
and City Council of Baltimore shall by ordinance provide ;
said amounts of stock shall be sold and issued by the com-
missioners , 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 parts of the sinking fund hereinafter mentioned ;
the residue of the money received from the sale of said
amounts of stock shall be turned over by them to the comp-
troller, to be by him deposited Avith the city register and to
be placed to the credit of a fund to be known as the "New
Paving Fund," which shall be exclusively applicable to the
cost of the work authorized by this Act and shall be charge-
able with no other items of cost or expense whatsoever ;
appropriations for the cost of said work, based upon the
estimates of said commission, shall be annually included by
the board of estimates, in the usual way, in the ordinance of
estimates, and, upon the written requisitions, supported by
proper vouchers of the chairman of said commission, or of
the chairman pro tempore of said commission, countersigned
by. the secretary of said commission, or by the secretary pro
tempore of said commission, either of which temporary
officers said commission is hereby authorized to appoint, by
vote or resolution in the event of the absence, sickness or
other disability for the time being of its chairman or secre-
tary, respectively, the Comptroller shall draw his warrants
upon. the city register, payable out of such appropriations
from said special fund for the amounts of all items of
cost or expense properly chargeable upon said special fund ;
but no part of said stock shall be issued, nor any member of
said commission appointed until the ordinance of the Mayor
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CHAP. 401
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and City Council of Baltimore providing 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 the votes cast
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 taxa-
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Submitted to
the legal
voters of the
city.
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