1252 LAWS OF MARYLAND. [CH. 515

of the City of Baltimore and granting to the Mayor and
City Council of Baltimore the right to provide by ordinance
for the expenditure of the proceeds of said loan.

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 certificates of indebtedness of
said corporation to an amount not exceeding two million dollars
($2, 000, 000. 00), said certificates of indebtedness 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 as the Mayor and City Council
of Baltimore shall by ordinance provide; but no such certificates
shall be issued in whole or in part unless the ordinance of the
Mayor and City Council of Baltimore providing for the issu-
ance thereof 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 Con-
stitution of Maryland.

SEC. 2. And be it further enacted, That the proceeds of the
certificates of indebtedness not exceeding their par value hereby
authorized to be issued shall be used for the purpose of acquir-
ing; the necessary land by purchase, condemnation or otherwise
and the constructing thereon or the purchase of the building
or buildings which may be required properly to house the
employees and activities of the said Mayor and City Council of
Baltimore.

SEC. 3. And be it further enacted, That the Mayor and City
Council of Baltimore may by ordinance authorize the issuance
of said certificates of indebtedness in series, maturing at stated
periods, and may make payable annually a proportion of the
principal of said certificates of indebtedness; and any portion
or all of said certificates may be registered, or not registered,
and said certificates or any portion thereof, shall have interest
coupons attached, or said certificates, or any portion thereof
shall not have interest coupons attached, as may be provided
by or under the authority of said ordinance; and said certifi-
cates of indebtedness when issued shall bear interest at such
rate or rates as may be provided by or under the authority of
said ordinance. If said certificates are issued in series matur-
ing at stated periods, and a proportion of the principal is made
payable annually, the Mayor and City Council of Baltimore
shall annually raise by taxation the amount of money required