582 LAWS OF MARYLAND. [CH. 548

(b) To create a sinking fund to meet the liability thus in-
curred, and to levy upon the assessable property in the city,
from time to time, such sums as may be necessary to provide
therefor. The City may invest moneys belonging to the sink-
ing fund in annuities or ground rents reserved out of lands
leased to the City and payable by the City; and the conveyance
thereof may be made to the City, in trust for the benefit and
purpose of such sinking fund; in every such case, such convey-
ance shall not work as a merger of the lease or term, but the
rent shall continue to be payable to the City as if such purchase
had not been made and shall be received and applied as the in-
come of other investments of the sinking fund may be applied.

(c) The making of any emergency loan provided for by the
Constitution shall be authorized by an ordinance declaring the
existence of such an emergency, the amount required to meet
the same and the form and character of the loan and the terms
of the securities issued by the City therefor; such ordinance
shall also provide for the discharge thereof within the period
of 40 years from the time of contracting the same.

(d) Any temporary loan provided for by the Constitution
shall be authorized by an ordinance for the conversion, dis-
charge or payment thereof, or of any part thereof remaining
unpaid or unprovided for, at the close of each fiscal year, by
the issuance of certificates of indebtedness in such amount as
may be necessary to convert, discharge or pay any such tem-
porary indebtedness unpaid or unprovided for prior to the
passage of the annual Ordinance of Estimates for the next
succeeding year.

(e) Indebtedness, emergency or temporary, may be created
without the previous authority of the General Assembly of
Maryland or submission to or approval by the voters of Balti-
more City.

(f) To provide in any ordinance submitting to the voters of
Baltimore City for their approval any loan authorized by the
General Assembly of Maryland that the bonds, stocks or certifi-
cates of indebtedness of the City to be issued in respect to such
loan may, when actually issued, provide for a rate of interest
per annum less than that which may have been stated in such
ordinance.

"(27) STREETS, BRIDGES AND HIGHWAYS.

(a) To open, extend, widen, straighten or close streets and
public ways of every kind within the bounds of the city and to
assess and collect benefits and to award any pay damages re-
sulting therefrom;

(b) To establish grade lines and to grade, pave and curb
streets and public ways of every kind;