J. MILLARD TAWES, Governor 35

that it shall not be necessary to provide for the maturity of any part
of the principal amount represented by any of said bonds for the first
five (5) years from the date of their issuance.

(d) Until all of the interest on and principal of any bonds issued
pursuant to the provisions of this Act have been paid in full, the
Mayor and City Council of Baltimore shall levy and impose an annual
tax on each One Hundred Dollars ($100. 00) of assessable property
in the City of Baltimore at a rate sufficient to produce revenue to pay
all interest on and principal of all bonds theretofore issued and out-
standing or authorized to be issued and outstanding, payable in the
next succeeding year.

(e) All premiums resulting from the sale of any of the bonds issued
and sold pursuant to the provisions of this Act shall be applied first
to defray the cost of issuance thereof and the balance, if any, shall
be applied to the payment of interest on any of said bonds becoming
due and payable during the fiscal year in which said bonds are issued
and sold or during the next succeeding fiscal year.

(f) The debt authorized by the provisions of this Act, and the
bonds issued and sold pursuant thereto and their transfer, and
the principal and interest payable thereon (including any profit
made on the sale thereof), shall be and remain exempt from any
and all State, county and municipal taxation in the State of Mary-
land.

(g) All bonds issued and sold pursuant to the provisions of this
Act shall be sold at public sale to the highest responsible bidder
or bidders therefor after due notice of such sale, but the Mayor
and City Council of Baltimore, or the Commissioners of Finance,
as the case may be, shall have the right to reject any or all bids
therefor for any reason, and thereafter reoffer such bonds at
public sale as aforesaid or at private sale, provided that if such
bonds be offered at private. sale they shall be offered for sale and
sold for not less than par and accrued interest.

SEC. 2. And be it further enacted, That the Mayor and City
Council of Baltimore be and it is hereby authorized, in the ordinance
or ordinances to be submitted to the legal voters of Baltimore City,
from time to time, (i) to determine and set forth, any or all of the
following, or (ii) to empower a majority of the Commissioners
of Finance of said municipality to pass a resolution or resolutions,
from time to time, to determine and set forth, any or all of the
following:

(a) The amount of the total debt, authorized by this Act and
the ordinance submitted to the legal voters of Baltimore City, which
shall be issued at any particular time;

(b) The form or forms of the bonds representing the debt, or
any part thereof, so authorized to be issued at any particular time,
including any interest coupons to be attached thereto; the pro-
visions, if any, for the issuance of coupon bonds; the provisions,
if any, for the issuance of fully registered bonds; the provisions,
if any, for the registration as to principal of any coupon bonds;
and the provisions, if any, for the conversion and reconversion into
coupon bonds of any fully registered bonds or coupon bonds regis-
tered as to principal;