314                             LAWS OF MARYLAND                      [CH. 170

(c)  The denomination or denominations of the bonds to be issued
at any particular time, which shall not be less than One Thousand
Dollars ($1,000.00) each but may be in sums of One Thousand
Dollars ($1,000.00) or any suitable multiple thereof, and the place
or places for the payment of principal and interest thereof;

(d)  The rate or rates of interest to be paid in connection with the
bonds to be issued at any particular time, not exceeding in any case
five per centum (5%) per annum, which interest shall be payable
semi-annually;

(e)   Subject to the limitations set forth in Section 1 of this Act,
the date of the bonds issued at any particular time and the maturity
dates of said bonds, including the right of redemption by the City
prior to maturity;

(f)  The time, place, manner and medium of advertisement of the
readiness of the Commissioners of Finance to receive bids for the
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
premiums realized from the sale, if any, for the cost of issuance,
including the expense of engraving, printing, advertising, attorney's
fees, and all other incidental expenses connected therewith; and

(b)  The remainder of such proceeds shall be used for the purpose
of enlarging, extending, altering, modernizing and improving the
sanitary sewerage and storm water drainage systems of Baltimore
City, including, but not limited to, the construction of additional
sewage disposal plants, pumping stations and other appurtenances,
the alteration, enlargement, modernization and improvement of
existing sewage disposal plants, pumping stations and other ap-
purtenances, and the acquisition by purchase or condemnation of
any and all sanitary and storm water sewers, sewage disposal plants,
pumping stations and other appurtenances, as well as of any and all
land and property, and of any right, interest, franchise, easement or
privilege therein, as may be necessary for any or all of the above
mentioned purposes, and doing any and all things necessary, proper
or expedient in connection with or pertaining to any or all of the
matters or things hereinbefore mentioned; and any or all of said
work or acquisition of property may be done either within or
outside of the boundary lines of Baltimore City.