3110                                                VETOES

of Baltimore to create a debt, and to issue and sell
its certificates of indebtedness as evidence
thereof, to an amount not exceeding Ten Million
Dollars ($10,000,000.00), the proceeds derived from
the sale of the certificates of indebtedness to be
used to make or contract to make financial loans to
any person or other legal entity to be used for or
in connection with the purchase, acquisition,
construction, erection or development of buildings
or structures, including any land necessary
therefor, within the boundaries of Baltimore City,
which buildings or structures are to be used or
occupied for residential purposes; to guarantee or
insure financial loans made by third parties to any
person or other legal entity which are to be used
for or in connection with the purchase, acquisition,
construction, erection or development of buildings
or structures, including any land necessary
therefor, within the boundaries of Baltimore City,
which buildings or structures are to be used or
occupied for residential purposes, and for doing any
and all things necessary, proper or expedient in
connection with or pertaining to any or all of the
matters or things hereinbefore mentioned; providing
when the power and authority vested in the Mayor and
City Council of Baltimore by this Act shall become
operative; authorizing said municipality to submit
an ordinance or ordinances for said purpose to the
legal voters of Baltimore City, and providing
generally for the issuance and sale of said
certificates of indebtedness.

May 31, 1974.

Honorable John Hanson Briscoe
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17, of the
Maryland Constitution, I have today vetoed House Bill
558.

This bill authorizes Baltimore City to borrow
$10,000,000 to make and guarantee loans for the
acquisition of property for residential purposes.

Senate Bill 293, which was enacted by the General
Assembly and signed by me on May 31, 1974, accomplishes
the same purpose as House Bill 558.

Therefore, it is unnecessary for me to sign House
Bill 558.