BLAIR LEE III, Acting Governor                         1013

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 nature 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 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
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.