MARVIN MANDEL, Governor                            2149

(Senate Bill 644)

AN ACT concerning

Baltimore City — Home Rehabilitation Bond Issue

FOR the purpose of authorizing the Mayor and City Council
of Baltimore to create a debt, and to issue and sell
its certificates of indebtedness as evidence
thereof, to an amount not exceeding One Million
Dollars ($1,000,000.00), the proceeds derived from
the sale of the certificates of indebtedness to be
used to make or contract to make financial loans to
the owners of buildings or structures located within
the boundaries of Baltimore City, which are used or
occupied for residential purposes, for or in
connection with rehabilitating or improving said
buildings or structures; to guarantee or insure
financial loans made by third parties to the owners
of buildings or structures located within the
boundary lines of Baltimore City, which are used or
occupied for residential purposes, for or in
connection with rehabilitating or improving said
buildings or structures, 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; 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.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(a) The Mayor and City Council of Baltimore be and
it is hereby authorized to create a debt and to issue and
sell its certificates of indebtedness (hereafter called
"bonds") as evidence thereof, to an amount not exceeding
One Million Dollars ($1,000,000.00), the proceeds derived
from the sale thereof to be used for the purposes
hereinafter mentioned, but said debt shall not be created
and said bonds shall not be issued, in whole or in part,
unless an ordinance or ordinances of the Mayor and City
Council of Baltimore providing for the issuance thereof
shall be first submitted to the legal voters of Baltimore
City at such time and place as may be fixed by said
ordinance or ordinances and be approved by a majority of
the votes cast at such time and place, all as required by
Section 7 of Article XI of the Constitution of Maryland;
and the Mayor and City Council of Baltimore, in
submitting any ordinance or ordinances for the issuance