52

LAWS OF MARYLAND

Ch. 16

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 ordinance to be submitted to the legal voters of
Baltimore City, or the resolution of the Board 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, attorneys' fees, and all other incidental
expenses connected therewith; and

(b)   The remainder of such proceeds shall be used for
or in connection with planning, developing, executing and
making operative the commercial and industrial Economic
Development Program of the Mayor and City Council of
Baltimore, including, but not limited to:

(i) The acquisition, by purchase, lease,
condemnation, or any other legal means, of land or property,
or any right, interest, franchise, easement or privilege
therein, in the City of Baltimore;

(ii) The payment of any and all costs and
expenses incurred in connection with or incidental to the
acquisition and management of said land or property,
including any and all rights or interest therein
hereinbefore mentioned;

(iii) The payment of any and all costs and
expenses incurred for or in connection with relocating and
moving persons or other legal entities displaced by the
acquisition of said land or property, or any of the rights
or interests therein hereinbefore mentioned;

(iv) The development or redevelopment,
including, but not limited to, the comprehensive renovation
or rehabilitation of any land or property, or any rights or
interests therein hereinbefore mentioned, in the City of
Baltimore, and the disposition of land and property for such
purposes;