HARRY HUGHES, Governor

795

by Ordinance No. 417, approved by the Mayor of Baltimore
City on April 2, 1969, and by the voters of Baltimore City
on May 13, 1969, authorized the City to borrow Eighty
Million Dollars ($80,000,000.00) and to use the same for
school building purposes; and

WHEREAS, Chapter 375 of the Laws of Maryland of 1975
reduced the total amount which the Mayor and City Council of
Baltimore was authorized to borrow under the terms and
provisions of Chapter 560 of the Laws of Maryland of 1968,
as amended by Chapter 6 of the Laws of Maryland of 1969,
from Eighty Million Dollars ($80,000,000.00) to Sixty-Six
Million Five Hundred Sixty Thousand Dollars
($66,560,000.00); and

WHEREAS, Certificates of indebtedness (hereinafter
sometimes called "Bonds") have been issued and sold by the
City in the amount of Forty-Seven Million Dollars
($47,000,000.00), so that the City now has the power to
issue and sell its bonds in the remaining amount of Nineteen
Million Five Hundred Sixty Thousand Dollars
($19,560,000.00), pursuant to said Act and ordinance; and

WHEREAS, It has been determined that it would not be in
the best interest of the City to borrow the amount of One
Million Five Hundred Sixty Thousand Dollars ($1,560,000.00)
of the remaining amount of Nineteen Million Five Hundred
Sixty Thousand Dollars ($19,560,000.00), which the City is
authorized to issue and sell for the purposes mentioned in
said Chapter 560 of the Laws of Maryland of 1968, as
amended, and Ordinance No. 151, as amended; now therefore

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the authority granted to the Mayor and City
Council of Baltimore by Chapter 560 of the Laws of Maryland
of 1968, as amended by Chapter 6 of the Laws of Maryland of
1969, to create a debt and issue its certificates of
indebtedness as evidence thereof, in the amount of Eighty
Million Dollars ($80,000,000.00), which authority has been
reduced by Chapter 375 of the Laws of Maryland of 1975 to an
amount not exceeding Sixty-Six Million Five Hundred Sixty
Thousand Dollars ($66,560,000.00), be and the same is hereby
reduced from the amount of Sixty-Six Million Five Hundred
Sixty Thousand Dollars ($66,560,000.00) to an amount not
exceeding Sixty-Five Million Dollars ($65,000,000.00).

SECTION 2. AND BE IT FURTHER ENACTED, That nothing
contained in this Act shall be taken or construed to:

(a) change, alter or modify any of the terms and
provisions of Chapter 560 of the Laws of Maryland of 1968,
as amended by Chapter 6 of the Laws of Maryland of 1969, and
Chapter 375 of the Laws of Maryland of 1975, except in the
manner and to the extent specifically set forth herein;