282 LAWS OF MARYLAND [CH. 139

ized to be issued, not exceeding the par value thereof, shall
be used for the acquisition, by purchase, condemnation or
any other legal means, of land or property, or any rights
therein, in the City of Baltimore, and constructing and
erecting on said land or property, or on any land or prop-
erty now or hereafter owned by the Mayor and City Council
of Baltimore, new school buildings, athletic and other aux-
iliary facilities, and for additions and improvements to, or
the modernization or reconstruction of, existing school
buildings or facilities, and for equipment for any and all
new facilities authorized to be constructed or erected by
the provisions hereof, and for architectural or engineering
services or surveys, and any other activities relating to
planning for the purposes above mentioned or relating to
planning for future projects of the same general character
which may be constructed out of future loans.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Baltimore may, by ordinance or ordinances,
authorize the issuance of said certificates of indebtedness
in series maturing at stated periods, and may make pay-
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 pro-
vided by or under the authority of said ordinance or ordi-
nances, 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
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 pre-
miums 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