MARVIN MANDEL, Governor                               449

advertisement of the readiness of the Commissioners of
Finance to receive bids for the purchase of the bonds
authorized to be issued hereunder, or any part thereof;
the form, terms and conditions of such bids; the time,
place and manner of awarding bonds so bid for, including
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 City, 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 ordinances 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 mature 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 premium 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
to make [[of]] 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.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
is declared to be an emergency measure and necessary for
the immediate preservation of the public health and
safety and having been passed by a yea and nay vote
supported by three fifths of all members elected to each
of the two Houses of the General Assembly, it shall take
effect from the date of its passage.

Approved April 13, 1976.