742
LAWS OF MARYLAND
Ch. 35
(e) Subject to the limitations set forth in Section 1
of this Act, the date of the bonds issued at any particular
time and the maturity dates of said bonds, including the
right of redemption by the City prior to maturity;
(f) The time, place, manner and medium of
advertisement of the readiness of the Board of Finance to
receive bids for the purchase of the bonds 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 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 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.; providing that the purposes
hereinbefore mentioned shall not be operative upon the
adoption of the amendment to the Constitution of Maryland
proposed by Chapter (House Bill 710) (Senate Bill 363)
of the Laws of Maryland of 1980 by the qualified voters of
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