MARVIN MANDEL, Governor

3961

Bill 646.

Sincerely,

/s/ Marvin Mandel

Governor

Senate Bill No. 647 — Baltimore City; Residential
Financing Bonds

AN ACT concerning

Baltimore City — Residential Financing 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 Thirty Million
Dollars ($30,000,000.00), 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;
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 15, 1975.
Honorable Steny H. Hoyer
President of the Senate
State House