310                               Laws of Maryland                        [Ch. 242

by ordinance or ordinances from time to time provide; but said
certificates of indebtedness shall not be issued, in whole or in part,
unless an ordinance or ordinances of the Mayor and City Council of
Baltimore providing for the issuance 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 submitting any ordinance or ordinances for
the issuance of said certificates of indebtedness, or any part thereof,
to the legal voters of Baltimore City, may submit and re-submit 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 acquisition, by
purchase, condemnation or any other legal means, of land or prop-
erty, or any rights therein, in the City of Baltimore, and for estab-
lishing, constructing, erecting and equipping buildings, structures
and facilities to be used by the Fire Department of Baltimore City
for or in connection with any and all of its functions and activities,
and for reconstructing, enlarging, extending, improving, renovating,
modernizing and equipping existing buildings, structures and facili-
ties of the Mayor and City Council of Baltimore now being used by,
or under the jurisdiction of, the Fire Department of Baltimore City
for or in connection with any and all of its functions and activities,
on any land or property acquired under the provisions hereof or on
any land or property now or hereafter owned by the Mayor and City
Council of Baltimore, and for acquiring new fire boats or other fire
fighting floating equipment, and for reconstructing, improving, reno-
vating, modernizing and equipping existing fire boats or other fire
fighting floating equipment, 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 mentioned.

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 certifi-
cates of indebtedness are issued in series, the net premiums resulting