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Session Laws, 1966
Volume 678, Page 479   View pdf image (33K)
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J. MILLARD TAWES, Governor                      479

266-I of Article 41 of the Annotated Code of Maryland (1965 Replace-
ment Volume), title "Governor—Executive and Administrative De-
partments," subtitle "Industrial Buildings for Counties and Munici-
palities," be and they are hereby repealed and re-enacted, with
amendments, to read as follows:

266A. Definitions.

(a)  As used in this subheading, the term "industrial building" or
"buildings" means any building or structure suitable for or intended
for use as a factory, mill, shop, processing plant, research and/or
development laboratory, warehouse, assembly plant, fabricating plant,
and offices related to any of the foregoing and/or the necessary
operating machinery and equipment, to be rented or leased to an
industrial concern by the municipality or county by which it is ac-
quired. The term also means the land or site necessary or desirable
for the building or structure, together with access roads, utilities,
and other necessary facilities.

(b)  Port facility means and shall include, without intending
thereby to limit the generality of such term, any one or more of the
following or any combination thereof: Lands, piers, docks, wharves,
warehouses, sheds, transit sheds, elevators, compressors, refrigera-
tion storage plants, buildings, structures and other facilities, ap-
purtenances and equipment necessary or useful in connection with
the operation of a modern port and every kind of terminal or storage
structure or facility now in use or hereafter designed for use in the
handling, storage, loading or unloading of freight or passengers at
steamship terminals, and every kind of transportation facility now
in use or hereafter designed for use in connection therewith.

(c)  "Municipality" means a municipal corporation in Maryland
subject to the provisions of Article HE of the Constitution; and it
also means the Mayor and City Council of Baltimore. "County"
means one of the twenty-three counties of Maryland.

266B. Bond issues authorized; ordinance or resolution; eminent
domain.

In order to relieve conditions of unemployment or to encourage
the increase of industry in this State, any municipality or county
may borrow money by issuing negotiable bonds for the purpose of
defraying the cost of acquiring any industrial building or buildings
and or port facilities, either by purchase or construction, but only
after an ordinance or resolution has been adopted by the legislative
body of the municipality or county specifying the proposed under-
taking, the amount of bonds to be issued, and the maximum rate of
interest the bonds are to bear. The ordinance or resolution shall
further provide that the industrial building or port facility is to be
acquired pursuant to the provisions of this subheading, and shall
also provide that the industrial building or port facility is to be
acquired for a bona fide tenant or tenants, as evidenced by a letter
of intent or similar agreement between the prospective tenant or
tenants
and the municipality or county issuing the bonds. Nothing
herein shall be construed to authorize any municipality or county
to acquire any industrial building or buildings or port facility by
eminent domain. In any suit, action, or proceeding involving the
validity or enforceability of any bond issued under this subheading

 

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Session Laws, 1966
Volume 678, Page 479   View pdf image (33K)   << PREVIOUS  NEXT >>


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