206 LAWS OF MARYLAND [CH. 75

CHAPTER 75
(House Bill 146)

AN ACT to add a new Article to the Annotated Code of Maryland
(1957 Edition), to be known as Article 45A and to be titled "In-
dustrial Development", authorizing each of the several counties
of Maryland and Baltimore City, if its governing body declares
a state of an acute unemployment to exist, as therein defined, from
time to time to grant sums of money to Industrial Development
Corporations, as therein defined, for the purpose of increasing em-
ployment by encouraging new businesses and industries to locate
within its boundaries and by aiding existing businesses and in-
dustries already so located, authorizing each such county and Balti-
more City to provide funds for such grants by borrowing from
time to time upon its full faith and credit and by issuing certain
tax free bonds for other certificates of indebtedness, subject to
the limitations and under the conditions therein provided; pro-
viding for the repayment of such sums as may be borrowed and
for the retirement of such bonds and other certificates of indebted-
ness as may be issued by a general tax levy on all taxable property
within such county or Baltimore City; and generally concerning
matters related thereto.

WHEREAS, it will be some period of time before the Development
Credit Corporation (created by Chapter 822 of the Acts of 1959)
will be in a position to accomplish the purposes for which it was
created; and

WHEREAS, each of the several counties of this State and Balti-
more City should have the authority to take immediate action to
alleviate unemployment within its boundary if it becomes acute as
hereinafter defined; now therefore

SECTION 1. Be it enacted by the General Assembly of Maryland,
That a new Article be and it is hereby added to the Annotated Code
of Maryland (1957 Edition), said new Article to be known as Article
45A to be titled "Industrial Development", and to read as follows:

45A. Industrial Development

1. If at any time after the passage of this Act the governing
body of any county shall determine that a state of acute unemploy-
ment exists within such county and shall so declare by ordinance
or resolution, such county shall thereupon be deemed to be au-
thorized and empowered to raise, contribute and deliver to the In-
dustrial Development Corporation operating within such county such
sums of money as it may deem proper to be used and applied by
said corporation, exclusively for the following purposes: to assist
and, through the cooperative efforts of the institutions and corpora-
tions which shall from time to time offer assistance, to develop and
advance the business prosperity and economic welfare of the county

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.

CAPITALS indicate amendments to bill.

Strike out indicates matter stricken out of bill.