988

LAWS OF MARYLAND

Ch. 71

any time after the first payment on account to compromise or
cancel any sum or sums remaining unpaid by the purchaser of
said stocks and bonds so sold by the State Treasurer.]

SECTION 2. AND BE IT FURTHER ENACTED, That Section(s)
10A of Article 90 — Sureties, of the Annotated Code of
Maryland be renumbered to be Section(s) 10.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved April 11, 1978.

CHAPTER 12

(Senate Bill 3 07)

AN ACT concerning

Baltimore City — Residential 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 Six Million Dollars ($6,000,000),
the proceeds derived from the sale of the certificates
of indebtedness to be used to make or contract to make
financial loans to any person or other legal entity to
be used for or in connection with the purchase,
acquisition, construction, 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 residential purposes; guaranteeing
or insuring 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, 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
residential 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; 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