606 LAWS OF MARYLAND. [CH. 220

SEC. 2. And be it further enacted, That the proceeds of
the stock or certificates of indebtedness hereby, authorized to
be issued, not exceeding the par value thereeof, shall be used
for the purpose of establishing, extending, enlarging and de-
veloping a public airport to accommodate land and sea planes
and for other port purposes; and to acquire by purchase or
condemnation land and other property and any interest therein
or appurtenant thereto, within or without the City of Balti-
more (in no event, however, to be situate more than three
miles beyond the present corporate limits of the City of
Baltimore), the acquisition of all which land, property and
interests by purchase or condemnation is hereby expressly au-
thorized; and to improve, extend and develop such land and
property as may be so acquired, and to construct such build-
ings, hangars, bulkheads, wharves and other facilities as may
be necessary, convenient or desirable in connection with said
purposes, all as the Mayor and City Council of Baltimore
shall by ordinance or ordinances provide.

Provided that if the Mayor and City Council of Baltimore
shall enter into any lease or leases of any part of said airport,
the same shall contain a provision requiring revaluations of
the leased property to be made at intervals not exceeding twen-
ty years, and the compensation or rental shall be adjusted upon
the basis of such revaluation or revaluations; and in the event
of a disagreement between the Mayor and City Council of Bal-
timore and such lessee, or its successors or assigns, the revalu-
ation shall be fixed by three arbitrators, one to be chosen by
the Board of Estimates of Baltimore City, one by the lessee,
and the third to be appointed by these two, and the revaluation
fixed by said arbitrators shall be final.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Baltimore may by ordinance or ordinances
authorize the issuance of the stock or certificates of indebted-
ness hereby authorized to be issued, in series maturing at
stated periods, and may make payable annually a proportion
of the principal of such stock or certificates of indebtedness,
and any portion or all of such stock or certificates may or may
not be registered, and such stock or certificates or any por-
tion thereof may or may not have interest coupons attached,
all as may be provided by or under the authority of such ordi-
nance or ordinances, and such stock or certificates when is-
sued shall bear interest at such rate or rates as may be
provided by or under the authority of such ordinance or ordi-