1502 LAWS OF MARYLAND. [CH. 848

debtedness or any portion thereof may or may not have
interest coupons attached, all as may be provided by or
under the authority of such 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
such ordinance or ordinances, not exceeding, however, five
per centum per annum. If said certificates of indebtedness
are issued in series maturing at stated periods, and a por-
tion of the principal is made payable annually, the Mayor
and City Council of Baltimore shall annually raise by tax-
ation the amount of money required to meet the interest
and the portion of the principal payable in each year. If
said certificates of indebtedness are not issued in series,
any premiums realized above the par value of the whole
amount of said certificates of indebtedness shall constitute
a part of the sinking fund created for the purpose of paying
the loan herein authorized. If said certificates of indebted-
ness 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 herein authorized, or any part thereof, 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.

Approved April 30? 1943.

CHAPTER 848.
(Senate Bill 461)

AN ACT to authorize the Mayor and City Council of Bal-
timore to issue the certificates of indebtedness of said
corporation to an amount not exceeding ten million dol-
lars ($10, 000, 000) for the purpose of condemning, open-
ing, widening, straightening, closing, grading, curbing
and paving streets, avenues and alleys, and for the con-
struction of new bridges, the reconstruction and altera-
tion of existing bridges and the abolishing of grade cross-
ings and the construction, reconstruction and alteration