462

LAWS OF MARYLAND

Ch. 215

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 City 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 ordinance 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 premiums 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
for the acquisition, by purchase or condemnation or any
other legal means, of land or property in the City of
Baltimore and establishing thereon or therein, or on or
in land or property now or hereafter owned by the Mayor
and City Council of Baltimore, new parks, playgrounds,
playfields, playlots, recreational centers or
recreational buildings; and for the design, redesign,
development, redevelopment and improvement of park,
school and other properties now or hereafter owned by the
Mayor and City Council of Baltimore for park or
recreational purposes; and for the acquisition,
construction, reconstruction, installation, erection,
protection, extension, enlargement, renovation or
modernization of, and additions to, public park or
recreational buildings, structures or facilities,
including, but not limited to, the Zoo located in Druid
Hill Park; and for the acquisition and installation of
equipment for any and all new facilities authorized to be
constructed, erected or established under the provisions
hereof, 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; 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