990

LAWS OF MARYLAND

Ch. 72

thereof and the balance, if any, shall be applied to the
payment of interest on any of said bonds becoming due and
payable during the fiscal year in which said bonds are
issued and sold or during the next succeeding fiscal year.

(f)    The debt authorized by the provisions of this
Act, and the bonds issued and sold pursuant thereto and
their transfer, and the principal and interest payable
thereon (including any profit made in the sale thereof),
shall be and remain exempt from any and all State, county
and municipal taxation in the State of Maryland.

(g)    All bonds issued and sold pursuant to the
provisions of this Act shall be sold at public sale to the
highest responsible bidder or bidders therefor after due
notice of such sale, but the Mayor and City Council of
Baltimore, or the Commissioners of Finance, as the case may
be, shall have the right to reject any and all bids therefor
for any reason, and thereafter reoffer such bonds at public
sale as aforesaid or at private sale, provided that if such
bonds be offered at private sale they shall be offered for
sale and sold for not less than par and accrued interest.

SECTION 2. AND BE IT FURTHER ENACTED, That the Mayor
and City Council of Baltimore be and it is hereby
authorized, in the ordinance or ordinances to be submitted
to the legal voters of Baltimore City, from time to time,
(i) to determine and set forth any or all of the following
or (ii) to empower a majority of the Commissioners of
Finance of said municipality to pass a resolution or
resolutions, from time to time, to determine and set forth,
any or all of the following:

(a)   The amount of the total debt,   authorized by this
Act and the ordinance submitted to     the legal voters of
Baltimore City, which shall be issued     at any particular
time;

(b)    The form or forms of the bonds representing the
debt, or any part thereof, so authorized to be issued at any
particular time, including any interest coupons to be
attached thereto; the provisions, if any, for the issuance
of coupon bonds; the provisions, if any, for the issuance of
fully registered bonds; the provisions, if any, for the
registration as to principal of any coupon bonds; and the
provisions, if any, for the conversion and reconversion into
coupon bonds of any fully registered bonds or coupon bonds
registered as to principal;

(c)    The denomination or denominations of the bonds to
be issued at any particular time, which shall not be less
than One Thousand Dollars ($1,000) each but may be in sums
of One Thousand Dollars ($1,000) or in any suitable multiple
thereof, and the place or places for the payment of
principal and interest thereof;

(d)   The rate or rates of interest to be paid in