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LAWS OF MARYLAND

Ch. 213

CHAPTER 213
(House Bill 1512)

AN ACT concerning

Baltimore City - Industrial 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 Five Million
Dollars ($5,000,000.00), 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, reconstruction, 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 industrial 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, reconstruction,
erection, development, [[redevelpment]]
redevelopment, 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 industrial 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; providing when the
power and authority vested in the Mayor and City
Council of Baltimore by this Act shall become
operative; 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 Five Million Dollars ($5,000,000.00), the