906 LAWS OF MARYLAND. [CH. 471

and City Council of Baltimore in submitting the ordinance for
the issuance of said stock or bonds to the legal voters of Balti-
more City may submit the same at the Municipal 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
sale of the certificates of indebtedness not exceeding their par
value hereby authorized to be issued shall be used for the pur-
pose of augmenting, extending and improving the water supply
of Baltimore City by the extension of mains; the increase of the
source or sources of supply; the construction of additional
storage reservoirs; the construction of additional filter basins
or plants, or adding to existing filter basins or plants, and
generally to do all things necessary, proper or expedient to
secure for the City of Baltimore a full, adequate and pure
water supply.

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
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 Baltimore shall annual-
ly raise by taxation the amount of money required to meet the
interest and the proportion of the principal payable in said
year. If said certificates are not issued in series, any premiums
realized above the par value of the whole amount of said certifi-
cates shall constitute a part of the sinking fund created for
the purpose of paying the loan herein authorized; if said cer-
tificates of indebtedness are issued in series, such premiums
shall be placed to the credit of any existing sinking funds
established for the payment of any loans of the Mayor and City
Council of Baltimore.

SEC. 3-A. And be it further enacted, That the Mayor and
City Council of Baltimore in submitting to the legal voters of
Baltimore City the ordinance authorizing the issuance of certifi-
cates of indebtedness herein designated shall provide for the