308                               Laws of Maryland                        [Ch. 241

thereof shall be submitted to the legal voters of Baltimore City at
such time and place as may be fixed by said ordinance or ordinances,
and be approved by a majority of the votes cast at such time and
place as required by Section 7 of Article XI of the Constitution of
Maryland; and the Mayor and City Council of Baltimore in sub-
mitting any ordinance or ordinances for the issuance of said certifi-
cates of indebtedness, or any part thereof, to the legal voters of
Baltimore City, may submit and resubmit the same at any municipal
election as well as at any general election to be held in Baltimore City.

Sec. 2. And be it further enacted, That the proceeds of sale of the
certificates of indebtedness hereby authorized to be issued, not ex-
ceeding the par value thereof, shall be used for the purpose of extend-
ing, enlarging, developing and improving the municipal water sup-
ply and the water system of Baltimore City, including, but not limited
to, the construction, reconstruction and extension of transmission
conduits, tunnels, and distribution mains, the increasing of the source
or sources of supply, the construction of additional storage reser-
voirs, additions to and extensions of existing reservoirs, the con-
struction of additional pumping stations, filter basins or plants, addi-
tions to and extensions of existing pumping stations, filter basins or
plants, any or all of the work to be done either within or outside
of the boundary lines of Baltimore City, and the doing of all things
necessary, proper or expedient to secure a full and adequate supply
of water for the City of Baltimore and its inhabitants and such
other persons or other legal entities as maty now or hereafter be law-
fully furnished water by the Mayor and City Council of Baltimore.

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 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 issued, 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