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CITY OF BALTIMORE - INDUSTRIAL FINANCING LOANS
1. THE GENERAL ASSEMBLY OF MARYLAND, BY PUBLIC LOCAL
LAW, MAY AUTHORIZE THE MAYOR AND CITY COUNCIL OF
BALTIMORE:
(A) TO MAKE OR CONTRACT TO MAKE FINANCIAL
LOANS TO ANY PERSON OR OTHER LEGAL ENTITY TO BE USED FOR
OR IN CONNECTION WITH THE PURCHASE, ACQUISITION,
CONSTRUCTION, RECONSTRUCTION, ERECTION, DEVELOPMENT,
REDEVELOPMENT, REHABILITATION, RENOVATION, MODERNIZATION
OR IMPROVEMENT OF BUILDINGS OF STRUCTURES, INCLUDING ANY
LAND NECESSARY THEREFOR, WITHIN THE BOUNDARIES OF
BALTIMORE CITY, WHICH BUILDINGS OR STRUCTURES ARE TO BE
USED OR OCCUPIED FOR INDUSTRIAL PURPOSES.
(B) TO GUARANTEE OR INSURE FINANCIAL LOANS
MADE BY THIRD PARTIES TO ANY PERSON OR OTHER LEGAL ENTITY
WHICH ARE TO BE USED FOR OR IN CONNECTION WITH THE
PURCHASE, ACQUISITION, CONSTRUCTION, RECONSTRUCTION,
ERECTION, DEVELOPMENT, REDEVELOPMENT, REHABILITATION,
RENOVATION, MODERNIZATION, OR IMPROVEMENT OF BUILDINGS OP
STRUCTURES, INCLUDING ANY LAND NECESSARY THEREFOR, WITHIN
THE BOUNDARIES OF BALTIMORE CITY, WHICH BUILDINGS OR
STRUCTURES ARE TO BE USED OR OCCUPIED FOP INDUSTRIAL
PURPOSES.
(C) ANY AND ALL FINANCIAL LOANS MADE BY THE
MAYOR AND CITY COUNCIL OF BALTIMORE; ANY AND ALL
GUARANTEES OR INSURANCE COMMITMENTS MADE BY THE MAYOR AND
CITY COUNCIL OF BALTIMORE IN CONNECTION WITH ANY OF THE
LOANS; AND ANY AND ALL HONEY USED OF EXPENDED BY THE
MAYOR AND CITY COUNCIL OF BALTIMORE IN CONNECTION WITH
THE LOANS, GUARANTEES, OR INSURANCE COMMITMENTS, PURSUANT
TO THE POWER AND AUTHORITY HEREINABOVE VESTED IN THE
MUNICIPALITY, AND ANY AND ALL ACTS PERFORMED BY THE MAYOR
AND CITY COUNCIL OF BALTIMORE IN CONNECTION WITH ANY
POWERS WHICH HAY BE GRANTED TO THE MAYOR AND CITY COUNCIL
3F BALTIMORE PURSUANT TO THIS ARTICLE, ARE ALL DECLARED
TO BE NEEDED, CONTRACTED FOR, EXPENDED OR EXERCISED FOR A
PUBLIC USE.
(D) IN THE EVENT OF ANY CONFLICT BETWEEN THE
PROVISIONS OF THIS ARTICLE AND THOSE OF ARTICLE XI,
SECTION 7, OF THE CONSTITUTION OF MARYLAND, OR ANY OTHER
PROVISIONS OF THE CONSTITUTION, THEN THE PROVISIONS OF
THIS ARTICLE SHALL CONTROL.
2. THE GENERAL ASSEMBLY OF MARYLAND MAY GRANT TO
THE MAYOR AND CITY COUNCIL OF BALTIMORE ANY AND ALL
ADDITIONAL POWER AND AUTHORITY NECESSARY OR PROPER TO
CARRY INTO FULL FORCE AND EFFECT ANY AND ALL OF THE
SPECIFIC POWERS WHICH THE GENERAL ASSEMBLY OF MARYLAND IS
AUTHORIZED TO GRANT TO THE MAYOR AND CITY COUNCIL OF
BALTIMORE PURSUANT TO THIS ARTICLE, AND TO FULLY
ACCOMPLISH ANY AND ALL OF THE PURPOSES AND OBJECTS
CONTEMPLATED BY THE PROVISIONS OF THIS ARTICLE, PROVIDED
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