2424

LAWS OF MARYLAND

[Ch. 462

the right whenever any of the bonds authorized by this
Act are offered for sale and sold at the same time as
other bonds of said corporation, to establish the
conditions for bids and awards and to award all of said
bonds on an all or none basis; and the time, place, terms
and manner of settlement for the bonds so bid for.

The ordinance to be submitted to the legal voters of
Baltimore City, or the resolution of the Commissioners of
Finance authorizing the issuance of said bonds, or any
portion thereof, as the case may be, shall set forth in
detail the dates when any of the bonds are to mature and
the amount to nature upon such dates.

SECTION 3. AND BE IT FURTHER ENACTED, That the
actual cash proceeds derived from the sale of the bonds
authorized to be issued under the provisions of this Act,
not exceeding the par value thereof, shall be used
exclusively for the following purposes, to wit:

(a)    So much thereof as may be necessary, in
addition to the premiums realized from the sale, if any,
for the cost of issuance, including the expense of
engraving, printing, advertising, attorney's fees, and
all other incidental expenses connected therewith; and

(b)    The remainder of such proceeds shall be used
for or in connection with planning, developing, executing
and making operative the Urban Renewal Program of the
Mayor and City Council of Baltimore, including, but not
limited to:

(i) The acquisition, by purchase, lease,
condemnation or any other legal means, of land or
property, or any right, interest, franchise, easement or
privilege therein, in the City of Baltimore;

(ii) The payment of any and all costs and
expenses incurred in connection with or incidental to the
acquisition and management of said land or property,
including any and all rights or interests therein
hereinbefore mentioned;

(iii) The payment of any and all costs and
expenses incurred for or in connection with relocating
and moving persons or other legal entities displaced by
the acquisition of said land or property, or any of the
rights or interests therein hereinbefore mentioned;

(iv) The development or redevelopment,
including, but not limited to, the comprehensive
renovation or rehabilitation of any land or property, or
any rights or interests therein hereinbefore mentioned,
in the City of Baltimore, and the disposition of land and