ALBERT C. RITCHIE, GOVERNOR 1149

the construction and establishment of new public wharves,
docks, piers and such warehouses, sheds, structures and
buildings as may be deemed proper or desirable in connec-
tion with the objects and purposes of this Act in such man-
ner and under such conditions as may be provided by ordi-
nance of the Mayor and City Council of Baltimore, subject
to the conditions of this Act.

SEC. 3. And be it farther enacted, That no part of the
proceeds of the loan hereby authorized shall be spent except
upon the recommendation of the commission hereinafter re-
quired to be appointed, which recommendation shall state the
character of the improvements to be made, the terms upon
which the property improved shall be rented, leased or other-
wise let or conveyed; and until the Mayor and City Council
of Baltimore, with the approval of the Board of Estimates,
shall have entered into a binding contract, covering a period
of not less than ten (10) years, secured to the satisfaction of
said Board for the rental of the property so acquired, or to
be acquired, improved or to be improved, at an annual rental
charge equal to or greater than the sum of the annual interest
on the expenditure for the acquisition, construction or im-
provement of the said property and the annual sinking or
retirement fund charged thereon; and should the construction
or improvement be upon or appurtenant to land or other
property now owned by the City, the appraised value of such
land or other property shall be included as a part of the
cost of construction or improvement.

SEC. 4. And be it further enacted, That before the ques-
tion of the issue of the City stock hereinabove provided for
or any part thereof shall be submitted to the legal voters
of the City of Baltimore, the Mayor and City Council of
Baltimore shall provide by ordinance for a Commission with
full power to administer the said fund, to provide for its
expenditures, to employ such officials, agents and servants
as may be necessary in connection therewith, and to super-
vise the entire disposition of the same, so far as the exercise
of such power shall not be inconsistent with the Charter of
the Mayor and City Council of Baltimore as the same is
now constituted or as it may be hereafter amended.

SEC. 5. And be it further enacted, That the said Commis-
sion shall have the right and power on behalf of the Mayor