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Ch. 13
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LAWS OF MARYLAND
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136
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of School Commissioners of Baltimore City, and shall also be
recorded by said Board in its official minutes; and
(d) No part of the proceeds derived from the sale of the
bonds hereby authorized to be issued shall be expended without
the approval of the Board of School Commissioners of Baltimore
City.
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 April 12, 1983.
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CHAPTER 14
(Senate Bill 31)
AN ACT concerning
Baltimore City - Housing Development 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 Three Million Dollars ($3,000,000.00),
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
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