20                                           LAWS OF MARYLAND                                Ch. 7

Dollars ($100.00) of assessable property in the City of
Baltimore at a rate sufficient to produce revenue to pay all
interest on and principal of all bonds theretofore issued
and outstanding or authorized to be issued and outstanding,
payable in the next succeeding year.

(e)  All premiums resulting from the sale of any of the
bonds issued and sold pursuant to the provisions of this Act
shall be applied first to defray the costs of issuance
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 Board 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 Board 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