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142 LAWS OF MARYLAND Ch. 15
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.
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SECTION 1. 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 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 ($1,000.00) each but may be in sums of One
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