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143
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HARRY HUGHES, Governor
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Thousand Dollars ($1,000.00) 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 connection
with the bonds to be issued at any particular time, which
interest shall be payable semiannually;
(e) Subject to the limitations set forth in Section 1 of
this Act, the date of the bonds issued at any particular time and
the 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 Board 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 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.
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SECTION 2. 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 for 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 buildings,
structures and facilities, to be used by the Police Department of
Baltimore City, and for additions and improvements to, or the
modernization or reconstruction of, existing buildings,
structures and facilities owned by the Mayor and City Council of
Baltimore, to be or now being used for or in connection with the
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