32 LAWS OF MARYLAND [CH. 7

plants for the disposal of rubbish, refuse and/or garbage
and all facilities and appurtenances necessary or useful in
connection with the use and operation of such modern in-
cinerators or reduction plants on said land or property or
on any land or property now or hereafter owned or con-
trolled by the Mayor and City Council of Baltimore, or for
reconstructing, enlarging, extending, improving, renovat-
ing, modernizing and equipping any existing incinerators
or reduction plants of the Mayor and City Council of Bal-
timore for the disposal of rubbish, refuse and/or garbage
and all facilities and appurtenances necessary or useful in
connection with the use and operation of such incinerators
or reduction plants on any land or property acquired under
the provisions hereof or on any land or property now or
hereafter owned or controlled by the Mayor and City Coun-
cil of Baltimore, and for doing any and all things neces-
sary, proper or expedient in connection with or pertaining
to any or all of the matters or things hereinbefore men-
tioned.

SEC. 3. And be it further enacted, That the Mayor
and City Council of Baltimore may, by ordinance or ordi-
nances, authorize the issuance of said certificates of in-
debtedness 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 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 is-
sued, 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 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 cer-
tificates of indebtedness are not issued in series, any premi-
ums 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 exist-
ing sinking funds established for the payment of any loans
of the Mayor and City Council of Baltimore.