MARVIN MANDEL, Governor

279

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved April 13, 1976.

CHAPTER 135
(Senate Bill 621)

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 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, development, rehabilitation,
renovation, modernization or improvement 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,
development, rehabilitation, renovation,
modernization, or improvement 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.

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