J. MILLARD TAWES, Governor                       129

(b)    The form or forms of the bonds representing the debt, or any
part thereof, so authorized to be issued at any particular time, includ-
ing any interest coupons to be attached thereto; the provisions, 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 registered as to principal;

(c)    The denomination or denominations of the bonds to be
issued at any particular time, which shall not be less than One Thou-
sand 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 settle-
ment 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)    The remainder of the proceeds shall be used to create and
establish a fund to be known as the Revolving Design Fund and
such Fund shall be used, with the approval of the Board of Estimates
of the Mayor and City Council of Baltimore, to pay any and all costs
and expenses which may be incurred in connection with the prepara-
tion of preliminary studies and designs, and plans, specifications
and other contract documents, for Capital Improvement Projects