SPIRO T. AGNEW, Governor                      1087

street lighting units and facilities to other units and facilities, and
the acquisition, installation and erection of any and all materials,
equipment, lighting units, structures and facilities needed to prop-
erly illuminate the aforementioned public ways, and for doing any
and all things necessary, proper or expedient in connection with
or pertaining to any or all of the matters or things herein men-
tioned; authorizing said municipality to submit an ordinance or
ordinances 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 Certifi-
cates of Indebtedness (hereafter called "bonds") as evidence there-
of, to an amount not exceeding One Million Two Hundred Thousand
Dollars ($1,200,000.00), 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 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 Mary-
land; 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
resubmit 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 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.

(d)   Until all of the interest on and principal of any bonds issued
pursuant to the provisions of this Act have been paid in full, the
Mayor and City Council of Baltimore shall levy and impose an annual
tax on each One Hundred Dollars ($100.00) of assessable property
in the City of Baltimore at a rate sufficient to produce revenue to
pay all interest on and principal of all bonds theretofore issued and
outstanding or authorized to be issued and outstanding, payable in
the next succeeding year.