506 LAWS OF MARYLAND [CH. 201

of its acquiring any land or property involved in the particular
project.

Any such contract, after it has been executed on behalf of
the Mayor and City Council of Baltimore by the Mayor of
Baltimore City and the corporate seal of the municipality
affixed thereto, duly attested by the Treasurer of the munici-
pality, and approved by the said Board of Estimates, shall
constitute a legal and binding obligation of the Mayor and City
Council of Baltimore.

In case any construction or improvement be made on, above,
under, in or appurtenant to any land or other property now
or hereafter owned by the Mayor and City Council of Balti-
more, the actual value of said land or other property shall be
included and considered as a part of the expenditures of money
made by the Mayor and City Council of Baltimore in connec-
tion with the particular project involved and shall be given full
consideration in any such contract entered into by the Mayor
and City Council of Baltimore.

Any lease or rental agreement hereinbefore mentioned may
be renewed or the term thereof extended for an additional
period of time upon such terms and conditions as may be
recommended, in writing, by the Port of Baltimore Commis-
sion and approved by the Board of Estimates of the Mayor
and City Council of Baltimore.

SEC. 5. And be it further enacted, That the Mayor and City
Council of Baltimore is hereby authorized, in its discretion, by
ordinance or ordinances to: (1) provide that any portion or
all of said certificates of indebtedness may or may not be
registered; (2) provide that any portion or all of said certifi-
cates of indebtedness carry registration or reconversion privi-
leges; (3) provide that any portion or all of said certificates
of indebtedness may or may not have interest coupons at-
tached; all as may be provided by or under the authority of
said ordinance or ordinances. Said certificates of indebtedness
when issued, shall bear such date or dates and shall bear in-
terest at such rate or rates as may be provided by or under
the authority of an ordinance or ordinances of the Mayor and
City Council of Baltimore, not exceeding, however, five per
centum (5%) per annum. All of said certificates of indebted-
ness, or any portion thereof, may be issued subject to being de-
clared or becoming due prior to the maturity date thereof and
all of said certificates of indebtedness, or any portion thereof,
may be redeemed prior to their maturity date with or without
the payment of any premium in connection therewith, all as
may be determined by the Commissioners of Finance of the