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Section 3
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 addition to the
Constitution of Maryland, by adding new Section 3 to
Article XI-C - Off-Street Parking, 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-C - Off-Street Parking
3.
IN ADDITION TO THE POWERS GRANTED AND EXERCISED
UNDER SECTIONS 1 AND 2, THE MAYOR AND CITY COUNCIL OF
BALTIMORE MAY, BY ORDINANCE, B0RROW MONEY TO FINANCE THE
ESTABLISHMENT, CONSTRUCTION, ERECTION, ALTERATION,
EXPANSION, ENLARGING, IMPROVING, EQUIPPING, REPAIRING,
MAINTAINING, OPERATING, CONTROLLING, AND REGULATING OF
OFF-STREET PARKING FACILITIES OWNED OR TO BE OWNED BY THE
MAYOR AND CITY COUNCIL OF BALTIMORE, AND EVIDENCE SUCH
BORROWING BY THE ISSUANCE OF REVENUE BONDS, NOTES OF
OTHER OBLIGATIONS TO BE SECURED BY A PLEDGE OF THE
REVENUES DERIVED FROM SUCH FACILITIES, AND MAY FURTHER
PLEDGE REVENUES COLLECTED FROM PARKING TAXES, PARKING
FEES OR CHARGES, PARKING FINES OR ANY OTHER REVENUE
DERIVED FROM THE PARKING OF MOTOR VEHICLES IN THE CITY OF
BALTIMORE TO OR FOR THE PAYMENT OF SUCH REVENUE BONDS,
NOTES OF OTHER OBLIGATIONS; AND FOR SUCH PURPOSES THE
COMMISSIONERS OF FINANCE ARE EMPOWERED TO MAINTAIN A FUND
CONSISTING OF THE REVENUE PLEDGED HEREIN. THE BONDS,
NOTES OR OTHER OBLIGATIONS ISSUED HEPEUNDER AND THE
PLEDGE OF REVENUES, TAXES, FEES, CHARGES OP FINES
PROVIDED FOR HEREIN SHALL NOT CONSTITUTE A GENERAL
OBLIGATION OF NOR A PLEDGE OF THE FAITH AND CREDIT OP.
TAXING POWER OF THE MAYOR AND CITY COUNCIL OF BALTIMORE
AND SHALL NOT CONSTITUTE A DEBT OF THE MAYOR AND CITY
COUNCIL OF BALTIMORE WITHIN THE MEANING OF SECTION 7 OF
ARTICLE XI OF THE CONSTITUTION OF MARYLAND. THE
ORDINANCE WAY PRESCRIBE THE FORM AND TERMS OF THE BONDS,
NOTES OR OTHER OBLIGATIONS, THE TIME AND MANNER OF PUBLIC
OF, PRIVATE SALE THEREOF, AND THE METHOD AND TERMS OF
PAYMENT THEREFOP, AND HAY AUTHORIZE THE COMMISSIONERS OF
FINANCE BY RESOLUTION TO DETERMINE ANY MATTEPS
HEREINABOVE RECITED AND TO DO ANY AND ALL THINGS
NECESSARY OR APPROPRIATE IN CONNECTION WITH THE ISSUANCE
AND SALE THEREOF.
SECTION 2. AND BE -IT FURTHER ENACTED, That the
aforegoing section hereby proposed as an amendment to the
Constitution of Maryland, at the next general election to
be held in this State in November, 1976, shall be
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