40                                       LAWS OF MARYLAND                               Ch. 16

SECTION 5. 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 February 29, 1980.

CHAPTER 17

(Senate Bill 105)

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 Eight Million Dollars
($8,000,000.00), 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, redevelopment
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; to guarantee
or insure 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, redevelopment, 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; and making this Act an
emergency measure.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That: