342                               Laws of Maryland                       [Ch. 269

Sec. 2. And be it further enacted, That the proceeds of sale of
the certificates of indebtedness hereby authorized to be issued, not
exceeding the par value thereof, shall be used as follows: Two Million
Dollars ($2,000,000) for the acquisition, by purchase or condemna-
tion or any other legal means, of land or property in the City of
Baltimore, and establishing thereon or therein, or on or in land or
property now or hereafter owned by the Mayor and City Council of
Baltimore, new playgrounds, playfields, recreational centers or recrea-
tional buildings, and for the redesign, development and improvement
of park, school and other properties now or hereafter owned by the
Mayor and City Council of Baltimore for recreational purposes, and
for the acquisition and installation of equipment for any new or
redesigned, redeveloped or improved playground, playfield, recrea-
tional center or building, and Seven Hundred and Fifty Thousand
Dollars ($750,000) for the acquisition, construction, reconstruction,
installation, erection, protection, extension, enlargement, renovation
or modernization of, and additions to, public park or recreational
buildings, structures, facilities or utilities, including, but not limited
to, the zoo located in Druid Hill Park in Baltimore City.

No part of the proceeds of sale of the certificates of indebtedness
shall be used for, or in connection with, reconstructing, enlarging,
extending, improving, renovating, modernizing or adding to the
existing Memorial Stadium, located in Venable Park, or any facility
appurtenant thereto.

Sec. 3. And be it further enacted, That the Mayor and City Council
of Baltimore may, by ordinance or ordinances, authorizing the issu-
ance 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 prem-
iums realized above the par value of the whole amount of said cer-
tificates 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 fund 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 submitting the whole or any part of this loan to the