THEODORE R. MCKELDIN, GOVERNOR 35

able 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
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. 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 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 Mary-
land, the same shall take effect from the date of its
passage.

Approved February 12, 1951.