SPIRO T. AGNEW, Governor                      1111

land or property now or hereafter owned by the Mayor and City
Council of Baltimore, new school buildings, athletic and other
auxiliary facilities, and for additions and improvements to, or
the modernization or reconstruction of, existing school buildings
or facilities, and for equipment for any and all new facilities
authorized to be constructed or erected by the provisions hereof,
and for architectural or engineering services or surveys, and
any other activities relating to planning for the purposes above
mentioned or relating to planning for future projects of the same
general character which may be constructed out of future loans;
conferring certain powers upon the Board of School Commissioners
of Baltimore City; imposing certain conditions in connection
with the expenditure of the proceeds derived from the sale of
said certificates of indebtedness; authorizing said municipality to
submit an ordinance or ordinances for said purpose to the legal
voters of Baltimore City; and providing generally for the is-
suance and sale of said certificates of indebtedness.

Section 1. Be it enacted by the General Assembly of Maryland,
That: (a) The Mayor and City Council of Baltimore be and it
is hereby authorized to create a debt, and to issue and sell its cer-
tificates of indebtedness (hereafter called "bonds") as evidence
thereof, to an amount not exceeding Twenty Million Dollars ($20,-
000,000.00), the proceeds derived from the sale thereof to be used
for the purposes hereinafter mentioned, but said debt shall not
be created and said bonds shall not be issued, in whole or in part,
unless an ordinance or ordinances of the Mayor and City Council
of Baltimore providing for the issuance thereof shall be first sub-
mitted to the legal voters of Baltimore City at such time and place
as may be fixed by said ordinance or ordinances and be approved by
a majority of the votes cast at such time and place, all as required
by Section 7 of Article XI of the Constitution of Maryland; and the
Mayor and City Council of Baltimore, in submitting any ordinance
or ordinances for the issuance of said bonds, or any part thereof,
to the legal voters of Baltimore City, may submit and re-submit
the same at any municipal election as well as at any general election
to be held in Baltimore City.

(b)   The Mayor and City Council of Baltimore may submit by
one ordinance, the whole of the debt authorized by this Act to the
legal voters of Baltimore City at one time, or it may, by one or
more separate ordinances, submit a part thereof to the legal
voters of said city at different times; and any ordinance or
ordinances submitting the whole or any part of such debt to the
legal voters of Baltimore City shall provide for the expenditure
of the proceeds thereof in accordance with the provisions of the
Charter of the Mayor and City Council of Baltimore, and by the
municipal agency designated in the annual Ordinances of Estimates
of the Mayor and City Council of Baltimore.

(c)  All of said bonds, or any part thereof, shall be issued in
accordance with a serial maturity plan so worked out as to dis-
charge the entire principal amount represented thereby within not
more than forty (40) years from the date of their issuance; pro-
vided, however, 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.