1100                      LAWS OF MARYLAND.                  [CH. 434

authorized. If said certificates of indebtedness are issued in
series, the net premiums resulting from the sale of the entire
loan 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. 4. And be it further enacted, That any ordinance of the
Mayor and City Council of Baltimore submitted to the legal
voters of Baltimore City under the authority of this Act, shall
provide for the entire issue of certificates of indebtedness, and
shall further provide for the expenditure of the proceeds thereof
in accordance with the provisions of the Charter of Baltimore,
and by the municipal agency designated in the annual ordinances
of estimates of the Mayor and City Council of Baltimore.

SEC. 5. And be it further enacted. That this Act is hereby de-
clared to be an emergency law and necessary for the immediate
preservation of the public health and safety, and having been
passed by a yea and nay vote, supported by three-fifths of all
of the members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its passage-
Approved April 10, 1931.

CHAPTER 434.

AN ACT to authorize the Mayor and City Council of Baltimore
to issue the certificates of indebtedness of said corporation to
an amount not exceeding ten million dollars ($10, 000, 000),
the proceeds of sale to be used for the acquisition by pur chase
or condemnation, of school house sites, the construction of
new school buildings, and for additions and improvements to
and the reconstruction of existing school buildings; author-
izing the submission of an ordinance for the purpose to the
legal voters of Baltimore City, such ordinance to provide for
the expenditure of the proceeds of said loan, the rate or rates
of interest to be paid thereon, and the manner of repayment
thereof; providing for the method of expenditure of the pro-
ceeds of said loan, and declaring this Act to be an emergency
law.

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 certificates1 of indebtedness of
said corporation to an amount not exceeding ten million dollars
($10, 000, 000), said certificates of indebtedness to be issued from