BLAIR LEE III, Acting Governor

999

of One Thousand Dollars ($1,000) or any suitable multiple
thereof, and the place or places for the payment or of
principal and interest thereof;

(d)    The rate or rates of interest to be paid in
connection with the bonds to be issued at any particular
time, which interest shall be payable semi—annually;

(e)    Subject to the limitations set forth in Section 1
of this Act, the date of the bonds issued at any particular
time and 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
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 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 for
the purpose of enlarging, extending, altering, modernizing
and improving the sanitary sewerage, storm water drainage,
and stream valley systems of Baltimore City, including, but
not limited to, the construction of additional sewage
disposal plants, pumping stations and other appurtenances,
the alteration, enlargement, modernization and improvement
of existing sewage disposal plants, pumping stations and
other appurtenances, and the acquisition by purchase or
condemnation of any and all sanitary and storm water sewers,
sewage disposal plants, pumping stations and other
appurtenances, as well as of any and all land and property,