HARRY HUGHES, Governor

1455

THE DEVELOPMENT AND GROWTH OF BUSINESS WITHIN BALTIMORE
CITY, THEREBY ENCOURAGING THE GROWTH IN REAL PROPERTY
ASSESSMENTS IN BALTIMORE CITY. IN CONNECTION WITH SHE
PROGRAM SUCH LOANS AND GUARANTEES, THE CITY MAY MAKE LOANS
DIRECTLY FOR QUALIFYING PROJECTS AND MAY GUARANTEE OR INSURE
LOANS MADE BY THIRD PARTIES FOR SUCH PROJECTS, INCLUDING
LOANS MADE IN THE FORM OF THE ACQUISITION BY A THIRD PARTY
OF REVENUE BONDS OR ANY OTHER EVIDENCE OF INDEBTEDNESS.

(D) WITHOUT IN ANY WAY LIMITING THE GENERALITY OF ANY
OTHER PROVISIONS OF THE CHARTER OF THE MAYOR AND CITY
COUNCIL OF BALTIMORE, TO BORROW MONEY BY THE ISSUANCE OF ITS
REVENUE BONDS AND LIMITED OBLIGATIONS PURSUANT TO ARTICLE
II, SUBSECTION (50), OF THIS CHARTER IN ORDER TO OBTAIN
MONEYS NECESSARY TO EFFECT THE INDUSTRIAL, COMMERCIAL, AND
RESIDENTIAL LOAN AND GUARANTEE PROGRAM HEREBY AUTHORIZED.

(E) ANY AND ALL FINANCIAL LOANS MADE BY THE MAYOR AND
CITY COUNCIL OF BALTIMORE, ANY AND ALL GUARANTEES OR
INSURANCE COMMITMENTS MADE BY THE MAYOR AND CITY COUNCIL OF
BALTIMORE IN CONNECTION WITH ANY OF THE LOANS, AND ANY AND
ALL MONEY USED OR EXPENDED BY THE MAYOR AND CITY COUNCIL OF
BALTIMORE IN CONNECTION WITH THE LOANS, GUARANTEES, OR
INSURANCE COMMITMENTS, PURSUANT TO THE POWER AND AUTHORITY
HEREINABOVE VESTED IN THE MUNICIPALITY, AND ANY AND ALL ACTS
PERFORMED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE IN
CONNECTION WITH ANY POWERS WHICH MAY BE GRANTED TO THE MAYOR
AND CITY COUNCIL OF BALTIMORE PURSUANT TO THIS ARTICLE, ARE
ALL DECLARED TO BE NEEDED, CONTRACTED FOR, EXPENDED, OR
EXERCISED FOR A PUBLIC USE.

SECTION 2. 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 May 6, 1980.

CHAPTER 455

(House Bill 1268)

AN ACT concerning

Vehicle Laws - Excise Tax

FOR the purpose of imposing an excise tax on certain
vehicles sold in the State.

BY repealing and reenacting, with amendments,