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2228 LAWS OF MARYLAND [Ch. 657
facilities, developments and improvements financed
by the issuance of the revenue bonds, the revenues
from or arising in connection with any contracts,
mortgages or other securities purchased with the
proceeds of the revenue bonds, or the contracts,
mortgages or other securities purchased or otherwise
acquired with the proceeds of the revenue bonds, to
provide certain bondholer remedies; generally
relating to the issuance of revenue bonds by
Baltimore City; and making this Act an emergency
measure.
BY repealing and re—enacting, with amendments
Article II — General Powers
Sub-section (50)
Charter of Baltimore City
(1964 Revision with amendments to July 1, 1973)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That sub-section (50) of Article II - General
Powers, of the Charter of Baltimore City (1964 Revision
with amendments to July 1, 1973) be and it is hereby
repealed and re—enacted, with amendments, to read as
follows:
Article II — General Powers
(50) Revenue Bonds and Obligations
(A) To borrow money to finance undertakings for
the accomplishment of any of the purposes, objects and
powers of the Mayor and City Council of Baltimore and in
connection therewith to issue bonds, notes or other
obligations (including refunding bonds, notes or other
obligations), all of which shall be fully negotiable,
payable, as to both principal and interest, solely from
and secured solely by a pledge of (I) the revenues
[realized] from OR ARISING IN CONNECTION KITH the
property, facilities, developments and improvements whose
financing is undertaken by issuance of said bonds, notes
or other obligations, (II) THE REVENUES FROM OR ARISING
IN CONNECTION WITH ANY CONTRACTS, MORTGAGES OR OTHER
SECURITIES PURCHASED OR OTHERWISE ACQUIRED WITH THE
PROCEEDS OF THOSE BONDS, NOTES OR OTHER OBLIGATIONS,
(III) THE CONTRACTS, MORTGAGES OR OTHER SECURITIES
PURCHASED OR OTHERWISE ACQUIRED WITH THE PROCEEDS OF
THOSE BONDS, NOTES OR OTHER OBLIGATIONS, OR (IV) ANY
COMBINATION OF (I), (II) OR (III). [existing facilities
to which such new facilities and improvements are
related, and not by mortgage of the said property,
facilities, developments, improvements, existing
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