ALBERT C. RITCHIE, GOVERNOR. 601

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, and
the Mayor and City Council of Baltimore in submitting the
ordinance for the issuance of said stock or bonds to the legal
voters of Baltimore City may submit the same at the Muni-
cipal Election to be held in Baltimore City on the first Tuesday
after the first Monday in May, 1927.

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
defraying the cost and expenses of condemning, opening, wide-
ening, straightening, closing, grading and paving streets, ave-
nues and alleys, and for the construction of necessary bridges,
the repairing of existing bridges and the abolishing of grade
crossings in Baltimore City.

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 certi-
ficates 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
maturing at stated periods, and a proportion of the principal
is made payable annually, the Mayor and City Council of Balti-
more shall annually raise by taxation the amount of money
required to meet the interest and the proportion of the princi-
pal payable in said year. If said certificates are not issued in
series, any premium realized above the par value of the whole
amount of said certificates shall constitute a part of the sink-
ing fund created for the purpose of paying the loan herein
authorized; if said certificates of indebtedness are issued in
series, such premiums shall be placed to the credit of any exist-
ing sinking funds established for the payment of any loans
of the Mayor and City Council of Baltimore.

SEC. 4. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the immedi-
ate preservation of the public health or safety, and passed upon