828 LAWS OF MARYLAND. [CH. 380

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Baltimore be, and
it is, hereby authorized to issue the stock of said corporation to
an amount not exceeding fifteen million dollars ($15,000,-
000.00), said stock to be issued from time to time as the Mayor
and City Council of Baltimore shall by ordinance provide, and
to be issued for such amounts and to be payable at such times
and to bear such rate of interest as the Mayor and City Council
of Baltimore shall by ordinance provide, but no stock shall be
issued in whole or in part unless an ordinance of the Mayor
and City Council of Baltimore providing for the issuance there-
of shall be submitted to the legal voters of Baltimore City 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.

SEC. 2. And be it further enacted, That the proceeds of the
stock hereby authorized to be issued shall be used for the pur-
pose of defraying the cost and expenses of the acquisition of
schoolhouse sites and the construction of school buildings and
additions to and re-construction of existing school buildings of
the City of Baltimore.

SEC. 3. And be it further enacted, That the Public Im-
provement Commission, provided for by Ordinance No. 376,
of the Mayor and City Council of Baltimore, approved July
2nd, 1920, is hereby vested with jurisdiction and control over
the expenditure of the proceeds of the loan authorized by this
Act for the purposes named herein.

SEC. 4. And be it further enacted, That the said Public
Improvement Commission be, and it is hereby authorized
to acquire by gift, purchase, lease, whatever the duration
of the lease, or other methods of acquisition, any private prop-
erty whatsoever, including rights or interests, franchises, priv-
ileges or easements that may be required by it for the purpose
of this Act.

Approved April 13th, 1922.

CHAPTER 380.

Ax ACT to repeal and re-enact, with amendments, Section 591
and Section 597 of Offutt's Code of the Public Local Laws