272                                     LAWS OF MARYLAND                              Ch. 190

AND PAYABLE, AS TO BOTH PRINCIPAL AND INTEREST, SOLELY
FROM, AND SECURED SOLELY BY, A PLEDGE OF AND LIEN UPON
THE REVENUES REALIZED FROM OR PRODUCED BY THE
PROPERTY, FACILITIES, DEVELOPMENTS, AND IMPROVEMENTS
WHOSE FINANCING IS UNDERTAKEN BY ISSUANCE OF SAID
BONDS, NOTES OR OTHER OBLIGATIONS, AND REALIZED FROM OR
PRODUCED BY EXISTING FACILITIES TO WHICH THE NEW
FACILITIES AND IMPROVEMENTS ARE RELATED , OR, UPON
MORTGAGES, NOTES, OR OTHER SECURITIES WHICH MAY BE
ACQUIRED FOR OR IN CONNECTION WITH SUCH PURPOSE WITH
BOND SALE PROCEEDS AND PLEDGED TO DEBT SERVICE
PAYMENTS ON SUCH BONDS.

(2)   TO ENTER INTO AGREEMENTS WITH ANY LEGAL ENTITY OR
ENTITIES AND TO ORDAIN ANY ORDINANCE OR ORDINANCES
THAT MAY BE NECESSARY OR PROPER TO EXERCISE ANY AND
ALL OF THE POWER AND AUTHORITY VESTED IN THE
MUNICIPALITY BY THIS SUB-PARAGRAPH (I) ANY AND ALL LOANS
TO BE MADE PURSUANT TO THE PROVISIONS OF THIS
SUB-PARAGRAPH (I) SHALL BE SUBJECT TO THE PRIOR APPROVAL
OF THE BOARD OF ESTIMATES OF THE MAYOR AND CITY COUNCIL
OF BALTIMORE, AND THE TERMS AND PROVISIONS OF ANY
AGREEMENT RELATIVE TO ANY SUCH LOAN SHALL BE SUBJECT
TO THE APPROVAL OF THE BOARD OF ESTIMATES AND THE CITY
SOLICITOR OF THE MUNICIPALITY.

(3)        ANY AND ALL OF SUCH BONDS, NOTES, OR OTHER
OBLIGATIONS SHALL NOT BE GENERAL OBLIGATIONS OF THE
MAYOR AND CITY COUNCIL OF BALTIMORE AND SHALL NOT BE A
PLEDGE OF OR INVOLVE THE FAITH AND CREDIT OR THE TAXING
POWER OF THE MAYOR AND CITY COUNCIL OF BALTIMORE HAND
SHALL NOT PLEDGE, CONVEY, OR MORTGAGE ANY REAL
PROPERTY OF THE MAYOR AND CITY COUNCIL OF BALTIMORE,]]
AND SHALL NOT CONSTITUTE A DEBT OF THE MAYOR AND CITY
COUNCIL OF BALTIMORE, ALL WITHIN THE MEANING OF SECTION
7 OF ARTICLE XI OF THE CONSTITUTION OF MARYLAND OR
WITHIN THE MEANING OF ANY OTHER CONSTITUTIONAL,
STATUTORY, OR CHARTER PROVISION LIMITING OR RESTRICTING
THE SALE OR ISSUANCE OF BONDS, NOTES, OR OTHER
OBLIGATIONS OF THE MUNICIPALITY. THE DEBT AUTHORIZED BY
THE PROVISIONS OF THIS SUB-PARAGRAPH (I), AND THE BONDS,
NOTES, OR OTHER OBLIGATIONS ISSUED AND SOLD PURSUANT
THERETO AND THEIR TRANSFER, AND THE PRINCIPAL AND
INTEREST PAYABLE THEREON (INCLUDING ANY PROFIT MADE IN
THE SALE THEREOF) SHALL BE AND REMAIN EXEMPT FROM ANY
AND ALL STATE, COUNTY, AND MUNICIPAL TAXATION IN THE
STATE OF MARYLAND. ANY AND ALL SUCH BONDS, NOTES, OR
OTHER OBLIGATIONS SHALL BE ISSUED BY THE MAYOR AND CITY
COUNCIL OF BALTIMORE PURSUANT TO AN ORDINANCE OF THE
MUNICIPALITY WITHOUT THE NECESSITY OF SUBMITTING THE
QUESTION OF ISSUANCE TO THE LEGAL VOTERS OF BALTIMORE
CITY FOR APPROVAL OR DISAPPROVAL. ANY ORDINANCE MAY
PRESCRIBE, AMONG OTHER THINGS, BUT NOT LIMITED TO, THE
FORM, TERMS, PROVISIONS, MANNER OR METHOD OF ISSUING
AND SELLING (INCLUDING NEGOTIATED AS WELL AS
COMPETITIVE BID SALE), AND THE TIME OR TIMES OF ISSUANCE,
AND ANY AND ALL OTHER DETAILS OF ANY SUCH BONDS, NOTES,