66

LAWS OF MARYLAND

Ch. 22

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 Board 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, attorneys' fees, and all other incidental
expenses connected therewith; and

(b)   The remainder of such proceeds shall be used for
the acquisition, by purchase, condemnation or any other
legal means, of land or property, or any rights therein, in
the City of Baltimore, and constructing and erecting on said
land or property, or on any ' land or property now or
hereafter owned by the Mayor and City Council of Baltimore,
new school buildings, athletic and other auxiliary
facilities, and for additions and improvements to, or the
modernization or reconstruction of, existing school
buildings or facilities, and for equipment for any and all
new facilities authorized to be constructed or erected by
the provisions hereof, and for architectural or engineering
services or surveys, and any other activities relating to
planning for the purposes above mentioned or relating to
planning for future projects of the same general character
which may be constructed out of future loans.

SECTION 4. AND BE IT FURTHER ENACTED, That in the
expenditure of the proceeds of sale of said bonds, the Mayor
and City Council of Baltimore shall observe the following
conditions:

(a) Subject to the provisions of the Charter of
Baltimore City relating to the Planning Commission, the
Board of School Commissioners of Baltimore City shall have
the authority to select sites for the construction of the
new school buildings hereby authorized;