2720                                          LAWS OF MARYLAND                      [Ch. 808

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.

Approved May 31, 1974.

CHAPTER 809
(House Bill 1429)
AN ACT concerning

City of Baltimore - General Powers

FOR the purpose of generally authorizing the Mayor and
City Council of Baltimore to establish [[a
owner—occupation ]] an owner—occupancy residential
mortgage loan program for the public purpose of
developing and perpetuating readily available
sources of money at low and moderate cost for such
residential mortgage loans within the City, to
purchase or contract to purchase, pursuant to the
residential mortgage loan program, mortgage loans
and other securities under certain terms and
conditions, and in connection therewith to issue
certain revenue bonds, notes or other obligations
pursuant to a certain Section of the Charter of
Baltimore City which bonds, notes or other
obligations may not constitute an indebtedness
within the meaning of any constitutional, charter or
statutory provision or limitation and which may not
constitute general obligations of the Mayor and City
Council of Baltimore: and making this Act an
emergency measure.

BY adding to

Article II - General Powers

Sub—section (51)

Charter of Baltimore City

(1964 Revision with amendments to July 1, 1973)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new sub-section (51) be and it is hereby
added to Article II of the Charter of Baltimore City
(1964 Revision with amendments to July 1, 1973, title
"General Powers,") to be captioned "(51) Loans to
Facilitate Low and Moderate Cost Residential Mortgage
Financing Within the City," and to read as follows:

Article II - General Powers