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CHAPTER 888
(Senate Bill 300)
AN ACT concerning
City of Baltimore - Residential Financing Loans
FOR the purpose of adding a new Article to the
Constitution to authorize the Mayor and City Council
of Baltimore to make, guarantee or insure financial
loans for or in connection with the purchase,
acquisition, construction, erection, or development
of residential property in Baltimore City, including
any land necessary therefor, and subaitting this
amendment to the qualified voters of the State for
adoption or rejection.
By proposing an amendment to the Constitution of Maryland
By adding
New Article XI-H - City of Baltimore - Residential
Financing Loans
Section 1 and 2
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, (Three-fifths of all the members elected to
each of the two Houses concurring), That the following be
and the same is hereby proposed as an amendment to the
Constitution of Maryland, by adding new Article XI—H —
City of Baltimore — Residential Financing Loans, Sections
1 and 2, the same, if adopted by the legally qualified
voters of the State, as herein provided, to become a part
of the Constitution of Maryland:
ARTICLE XI—H
CITY OF BALTIMORE - RESIDENTIAL 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,
ERECTION OR DEVELOPMENT OP BUILDINGS OR STRUCTURES,
INCLUDING ANY LAND NECESSARY THEREFOR, WITHIN THE
BOUNDARIES OF BALTIHOHE CITY, WHICH BUILDINGS OH
STRUCTURES ARE TO BE USED OR OCCUPIED FOR RESIDENTIAL
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