254 LAWS OF MARYLAND [CH. 16

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 certificates of indebtedness are issued in series matur-
ing 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 re-
quired to meet the interest and the portion of the princi-
pal payable in each year. If said certificates of indebted-
ness 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 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 the Mayor and
City Council of Baltimore may by one ordinance, submit the
whole of this loan to the legal voters of Baltimore City at
one time, or it may by one or more separate ordinances
submit a part of said loan to the legal voters of said City
at different times; and any ordinance or ordinances, sub-
mitting the whole or any part of this loan to the legal
voters of Baltimore City shall provide for the expenditure of
the proceeds thereof in accordance with the provisions of
the Charter of the Mayor and City Council of Baltimore,
and by the municipal agency designated in the annual Ordi-
nances of Estimates of the Mayor and City Council of
Baltimore.

SEC. 5. And be it further enacted, That this Act is hereby
declared to be an acute 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 the members elected to each of the two
Houses of the General Assembly of Maryland, the same
shall take effect from the date of its passage.

Approved March 28, 1950.