2152

LAWS OF MARYLAND

[Ch. 345

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 whenever 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 ordinances 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.

SECTION 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 premium 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
to make or contract to make financial loans to the owners
of buildings or structures located within the boundaries
of Baltimore City, which are used or occupied for
residential purposes, for or in connection with
rehabilitating or improving said buildings or structures;
to guarantee or insure financial loans made by third
parties to the owners of buildings or structures located
within the boundary lines of Baltimore City, which are
used or occupied for residential purposes, for or in
connection with rehabilitating or improving said
buildings or structures, 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
hereinbefore mentioned.