ALBERT C. RITCHIE, GOVERNOR. 903

time to time and for such amounts, payable at such periods and
to bear such rate of interest, all as the Mayor and City Council
of Baltimore shall by ordinances from time to time provide; but
no stock or bonds 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, 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 Municipal Election to be held in Bal-
timore 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 'hereby
authorized to be issued shall be used for the acquisition, by pur-
chase or condemnation, of school house sites and the construction
of school buildings; additions, improvements and re-construc-
tion of existing school buildings; provided that the proceeds
(not exceeding the par value) received from the sale of one mil-
lion dollars ($1, 000, 000) of said certificates of indebtedness
shall be used exclusively for acquiring, by purchase or condem-
nation, land and constructing or re-constructing additions to
the Baltimore Polytechnic Institute; provided that if the en-
tire proceeds received from the sale of said $1, 000, 000 of
said certificates of indebtedness shall not be necessary for the
said Polytechnic Institute then the balance thereof may be
devoted to the general purposes of this Act; and provided fur-
ther that the proceeds (not exceeding the par value) received
from the sale of one million eight hundred thousand dollars
($1, 800, 000) of said certificates of indebtedness shall be used ex-
clusively in acquiring, by purchase or condemnation, land and
constructing or re-constructing schools for the colored race.

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 certificates
of indebtedness when issued shall bear interest at such, rate or