HERBERT R. O'CONOR, GOVERNOR. 1503

of grade separations in Baltimore City, authorizing 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 expen-
diture of the proceeds of said loan.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and City Council of Baltimore
be and it is hereby authorized to issue the certificates of
indebtedness of said corporation to an amount not exceed-
ing ten million dollars ($10, 000, 000), said certificates of
indebtedness to be issued from time to time and for such
amounts, payable at such periods, and to bear such rate or
rates of interest, all as the Mayor and City Council of Bal-
timore shall by ordinance provide; but said certificates of
indebtedness shall not be issued in whole or in. part unless
an ordinance of the Mayor and City Council of Baltimore
providing for the issuance thereof shall be submitted to the
legal voters of Baltimore City at such time and place as
may be fixed therein, and 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 any
ordinance for the issuance of said certificates of indebted-
ness, or any part thereof, to the legal voters of Baltimore
City, may submit and re-submit the same at any municipal
as well as at any general election to be held in Baltimore
City.

SEC. 2. And be it further enacted, That the proceeds of
sale of the certificates of indebtedness hereby authorized to
be issued, not exceeding the par value thereof, shall be used
for the purpose of condemning, opening, widening, straight-
ening, closing, grading, curbing and paving streets, ave-
nues and alleys, and for the construction of new bridges,
the reconstruction and alteration of existing bridges and
the abolishing of grade crossings and the construction, re-
construction and alteration of grade separations in Balti-
more City.

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 ma-
turing at stated periods, and may make payable annually
a portion of the principal of said certificates of indebted-
ness, and any portion or all of said certificates of indebted-
ness may or may not be registered, and said certificates of
indebtedness or any portion thereof may or may not have