612                             LAWS OF MARYLAND                      [CH. 268

and erecting on said land or property, or on any land or property
now or hereafter owned by the Mayor and City Council of Balti-
more, 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 tor
equipment for any and all new facilities authorized to be con-
structed 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 plan-
ning 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 pro-
ceeds derived from the sale of said certificates of indebtedness;
authorizing said municipality to submit an ordinance or ordi-
nances for said purpose to the legal voters of Baltimore City;
and providing generally for the issuance and sale of said certifi-
cates 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 certificates
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 submitted to the legal voters of
Baltimore City at such time and place as may be fixed by said ordi-
nance 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 is-
suance of said bonds, or any part thereof, to the legal voters of Balti-
more 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 ac-
cordance 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 ac-
cordance with a serial maturity plan so worked out as to discharge
the entire principal amount represented thereby within not more
than forty (40) years from the date of their issuance; provided,
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.