76 LAWS OF MARYLAND. [CH. 28

Council of Baltimore will lose as a result of it acquiring any
land or property involved in the particular project. Any such
contract, after it has been executed on behalf of the Mayor
and City Council of Baltimore by the Mayor of Baltimore
City and the corporate seal of the municipality affixed thereto
duly attested by the Treasurer of the municipality and ap-
proved by the said Board of Estimates, shall constitute a
legal and binding obligation of the Mayor and City Council
of Baltimore. In case any construction or improvement be
made on, under, in or appurtenant to any land or other prop-
erty now or hereafter owned by the Mayor and City Council
of Baltimore, the appraised value of said land or other prop-
erty shall be included and considered as a part of the ex-
penditures of money made by the Mayor and City Council
of Baltimore in connection with the particular project in-
volved and shall be given full consideration in any such con-
tract entered into by the Mayor and City Council of Balti-
more.

SEC. 5. And be it further enacted, That the Mayor and
City Council of Baltimore may, by ordinance or ordinances,
authorize the issuance of said certificates of indebtedness in
series maturing at stated periods, and may make payable
annually a portion of the principal of said certificates of
indebtedness, and any portion or all of said certificates of
indebtedness may or may not be registered, and said certifi-
cates of indebtedness, or any portion thereof, may or may
not have interest coupons attached, all as may be provided
by or under the authority of said ordinance or ordinances,
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 or ordinances. If said cer-
tificates of indebtedness are issued in series maturing at
stated periods, and a portion of the principal is made payable
annually, the Mayor and City Council of Baltimore shall
annually raise by taxation 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, and if said certificates
of indebtedness are issued in series, the net premiums result-
ing from 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. 6. And be it further enacted, That the Mayor and City
Council of Baltimore may, by one ordinance, submit the whole
of thisi loan to the legal voters of Baltimore City at one time,
or it may, by one or more separate ordinances, submit a part