262 LAWS OF MARYLAND [CH. 132

thorize 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 may or may not be
registered and said certificates 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 pro-
vided by or under the authority of said ordinance or ordi-
nances. If said certificates of indebtedness are issued in
series maturing at stated periods, and a portion of the prin-
cipal 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 in-
debtedness 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 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 submitting 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 accord-
ance with the provisions of the Charter of the Mayor and City
Council of Baltimore, and by the municipal agency designated
in the annual Ordinance 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 emergency measure 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 of 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 15, 1951.