MARVIN MANDEL, Governor                               455

matters or things hereinbefore mentioned; provided,
however, that no part of such proceeds shall be used
to pay costs not directly related to and required
for the acquisition, construction or completion of a
specific physical improvement and the initial
equipping thereof; it being the intent of this
provision to limit the use of such proceeds to
capital expenditures and to prohibit their use for
current expenses of the City; 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 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 certificates of indebtedness (hereafter
called "Bonds") as evidence thereof, to an amount not
exceeding Seven Million Five Hundred Thousand Dollars
($7,500,000.00), 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 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 discharge the entire principal amount
represented thereby within not more than forty (40) years