THEODORE R. MCKELDIN, GOVERNOR 401

connection with extending, developing or improving the
harbor or port of Baltimore and its facilities, as provided
for or contemplated by Paragraphs (b) and (c) of Section
2 of this Act, until after the Mayor and City Council of
Baltimore, with approval of its Board of Estimates, shall
have entered into a binding contract with a private, public
or quasi-public corporation, partnership, association, person
or other legal entity, secured to the satisfaction of the said
Board of Estimates.

In the event any such contract provides only for the leas-
ing or renting of any land or property owned or otherwise
held or controlled by the Mayor and City Council of Balti-
more to a legal entity for a term of years and provides that
upon the expiration of the contract or the termination
thereof for any cause that said land or property and all
improvements placed thereon by any one shall be the sole
and absolute property of the Mayor and City Council of
Baltimore, then said agreement shall provide that the
Mayor and City Council of Baltimore will be reimbursed for
at least sixty per cent (60%) of all expenditures of money
made by it in connection with the particular project in-
volved, and for all interest, redemption or other charges
paid or to be paid by the Mayor and City Council of Balti-
more on or in connection with all funds borrowed by it and
expended in connection with the particular project involved,
and for all estimated real estate taxes that the Mayor and
City Council of Baltimore will lose as a result of its acquir-
ing any land or property involved in the particular project.

In case any such contract provides for the sale of, or the
transfer at any time of title to, any land or property
owned or otherwise held or controlled by the Mayor and
City Council of Baltimore, or any improvements placed
thereon by any one, to a legal entity, then said contract
shall provide that the Mayor and City Council of Baltimore
will be reimbursed for at least all expenditures of money
made by it in connection with the particular project in-
volved, and for all interest, redemption or other charges
paid or to be paid by the Mayor and City Council of Balti-
more on or in connection with all funds borrowed by it and
expended in connection with the particular project involved,
and for all estimated real estate taxes that the Mayor and
City Council of Baltimore will lose as a result of its acquir-
ing any land or property involved in the particular project.

Any such contract, after it has been executed on behalf
of the Mayor and City Council of Baltimore by the Mayor of
Baltimore City and the corporate seal of the municipality