730 LAWS OF MARYLAND. [CH. 222

nance for that purpose to the legal voters of the City of
Baltimore and granting to the Mayor and City Council of
Baltimore the right to provide by ordinance for the expendi-
ture 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 ten million
dollars ($10, 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 provid-
ing for the issuance thereof shall be submitted to the legal vot-
ers 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
certificates of indebtedness not exceeding their par value here-
by authorized to be issued shall be used for the purpose of de-
fraying the cost and expenses of the construction of additions
and extensions to the sanitary sewerage and storm water drain-
age systems of the Mayor and City Council of Baltimore City,
including the right to construct additional sewerage disposal
plants, pumping stations and altering, repairing, improving
and extending its existing plants and appurtenances thereto;
and also for the acquisition by purchase or condemnation of
any sanitary or storm water sewers or sewage disposal plants.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Baltimore may by ordinance authorize the is-
suance 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 reg-
istered, 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
certificates of indebtedness when issued shall bear interest at
such rate or rates as may be provided by or under the authority