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Session Laws, 1936 (Special Session 1)
Volume 577, Page 8   View pdf image (33K)
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8 LAWS OF MARYLAND. [CH. 5

adopted by the voters thereof at the November election,
1918), granting the Mayor and City Council of Baltimore
authority to borrow money to meet certain emergencies,
to declare by ordinance the existence of such emergencies,
and provide by ordinance for the creation of municipal
debt, temporary or otherwise, to meet such emergencies,
regulating the exercise of the power herein conferred,
and limiting the authority for creating indebtedness,
temporary or otherwise, for emergency purposes, and de-
claring this Act to be an emergency law.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That a new sub-section be and it is hereby added
to Section 6 of Article 4 of the Code of Public Local Laws
of Maryland (1930 Edition), title "Baltimore City," to be
numbered (25-B), entitled "Emergency Loans," (the said
Section 6 of Article 4 being part of the Charter of Balti-
more City adopted by the voters thereof at the November
election, 1918), and to follow immediately after sub-section
(25-A) of said Charter, and to read as follows:

(25-B). To borrow any amount of money at any time to
provide for any emergency arising from the necessity of
maintaining the police or preserving the health, safety and
sanitary condition of the City; to declare by ordinance the
existence of such an emergency, and provide, by ordinance,
for the creation of municipal debt, temporary or otherwise,
for such amount as may be required to meet the same, and
the form and character of the loan, or loans, whether tem-
porary or otherwise, and the terms of the security, or secur-
ities, to be issued by the City therefor. Such ordinance
shall provide, as to any temporary debt authorized or pro-
vided therein, for the conversion, discharge or payment
thereof, or of any part thereof remaining unpaid or unpro-
vided for, at the close of each fiscal year, by the issue of
certificates of indebtedness in such amount as may be neces-
sary to convert, discharge or pay any such temporary in-
debtedness unpaid or unprovided for prior to the passage
of the annual Ordinance of Estimates for the next succeed-
ing year. Such, ordinance shall provide, as to any debt
other than temporary indebtedness, for the discharge there-
of within the period of forty years from the time of con-
tracting the same. Indebtedness, temporary or otherwise,
may be created pursuant to this power without the pre-
vious authority of the General Assembly of Maryland or
submission to or approval by the legal voters of the City
of Baltimore.

 

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Session Laws, 1936 (Special Session 1)
Volume 577, Page 8   View pdf image (33K)
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