256                               Laws of Maryland                       [Ch. 215

purchase of the bonds authorized to be issued hereunder, or any part
thereof; the form, terms and conditions of such bids; the time, place
and manner of awarding bonds so bid for, including the right when-
ever any of the bonds authorized by this Act are offered for sale
and sold at the same time as other bonds of said corporation, to
establish the conditions for bids and awards and to award all of said
bonds on an all or none basis; and the time, place, terms and manner
of settlement for the bonds so bid for.

The ordinance to be submitted to the legal voters of Baltimore
City, or the resolution of the Commissioners of Finance authorizing
the issuance of said bonds, or any portion thereof, as the case may
be, shall set forth in detail the dates when any of the bonds are to
mature and the amount to mature upon such dates.

Sec. 3. And be it further enacted, That the actual cash proceeds
derived from the sale of the bonds authorized to be issued under the
provisions of this Act, not exceeding the par value thereof, shall be
used exclusively for the following purposes, to wit:

(a)   So much thereof as may be necessary, in addition to the pre-
miums realized from the sale, if any, for the cost of issuance, includ-
ing the expense of engraving, printing, advertising, attorney's fees,
and all other incidental expenses connected therewith; and

(b)   Three Hundred Thousand Dollars ($300,000.00) of such pro-
ceeds shall be used for the acquisition, by purchase or condemnation
or any other legal means, of land or property in the City of Balti-
more, and establishing thereon or therein, or on or in land or prop-
erty now or hereafter owned by the Mayor and City Council of Bal-
timore, 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

(c)   The remainder of such proceeds, after providing for the pay-
ment of the items mentioned in sub-paragraph (a) hereof and pro-
viding for the purposes mentioned in sub-paragraph (b) hereof,
shall be used for the acquisition, construction, reconstruction, instal-
lation, erection, protection, extension, enlargement, renovation or
modernization of, and additions to, public park or recreational build-
ings, structures, facilities or utilities, including, but not limited to,
the zoo located in Druid Hill Park and the Baltimore Memorial
Stadium fronting on Thirty-Third Street, both of which are located
in Baltimore City.

Sec. 4. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved March 28, 1961.