446                                      LAWS OF MARYLAND                              Ch. 212

CHAPTER 212
(House Bill 1511)

AN ACT concerning

Baltimore City — Commercial 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 Two Million
Dollars ($2,000,000.00), 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 commercial purposes, for or in
connection with rehabilitating, renovating,
redeveloping 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
commercial purposes, for or in connection with
rehabilitating, renovating, redeveloping 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 Two Million Dollars ($2,000,000.00), 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