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LAWS OF MARYLAND

Ch. 76

SECTION 4. AND BE IT FURTHER ENACTED, That this Act is
hereby 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 the members elected to each of the two
Houses of the General Assembly, the same shall take effect
from the date of its passage.

Approved April 11, 1978.

CHAPTER 77

(Senate Bill 342)

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),
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), 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