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Session Laws, 1947 Special Session
Volume 404, Page 61   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 61

portion of the proceeds of said certificates of indebtedness
may be used for erecting on land or property now or here-
after owned by the Mayor and City Council of Baltimore
such building, buildings, structure or structures as here-
inabove provided, as the Mayor and City Council of Balti-
more shall by ordinance or ordinances provide; authorizing
the Municipality to submit an ordinance or ordinances
for said purpose to the legal voters of Baltimore City and
declaring this Act to be an emergency law.

WHEREAS, Chapter 9 of the Laws of Maryland of 1944
(Extraordinary Session) authorized the Mayor and City
Council of Baltimore to issue its certificates of indebtedness
to an amount not exceeding Seven Million Dollars ($7, 000, -
000. 00) and to use the proceeds derived from the sale of the
certificates of indebtedness for the purpose of acquiring land
in the City of Baltimore and erecting thereon on land already
owned by the Mayor and City Council of Baltimore buildings
and structures; and

WHEREAS, since the enactment of Chapter 9 of the Laws of
Maryland of 1944 (Extraordinary Session), it has been deter-
mined that additional funds are necessary and needed for the
purposes hereinbefore -mentioned; therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Baltimore be and
it is hereby authorized to issue the certificates of indebtedness
of said corporation to an amount not exceeding Eight Million
Dollars ($8, 000, 000. 00), the said certificates of indebtedness
to be issued from time to time and for such amounts, and
payable at such periods, and to bear such rate or rates of
interest, all as the Mayor and City Council of Baltimore shall
by ordinance or ordinances from time to time provide; but
said certificates of indebtedness shall not be issued in whole
or in part unless an ordinance or ordinances of the Mayor
and City Council of Baltimore providing for the issuance
thereof shall be submitted to the legal voters of Baltimore
City at such time and place as may be fixed by said ordinance
or ordinances and be approved by a majority of the votes
cast at such time and place as required by Section 7 of
Article 11 of the Constitution of Maryland; and the Mayor
and City Council of Baltimore, in submitting any ordinance
or ordinances for the issuance of said certificates of indebted-
ness, or any part thereof, to the legal voters of Baltimore City,
may submit and resubmit the same at any municipal election
as well as at any general election to be held in Baltimore City.

SEC. 2. And be it further enacted, That the proceeds of
sale of the certificates of indebtedness hereby authorized to be
issued, not exceeding the par value thereof, shall be used for

 

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Session Laws, 1947 Special Session
Volume 404, Page 61   View pdf image (33K)
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