3182                                             LAWS OF MARYLAND                                        Ch. 645

purposes; and 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, reconstruction, erection,

development, redevelopment, rehabilitation, renovation,
modernization, 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 industrial purposes.

BY adding to

Article II - General Powers
Section (59)

Charter of Baltimore City
(1964 Revision, as amended)

Preamble

The General Assembly of Maryland hereby finds and declares
that:

1. Article XI, Section 7 of the Constitution of Maryland
was amended by Chapter 739 of the Acts of 1982, ratified November
8, 1982, to permit proposals for the creation of general
obligation debt by the Mayor and City Council of Baltimore to be
approved by resolution of the members of the General Assembly
representing Baltimore City, as an alternative to the prior
requirement for approval by an Act of the General Assembly; and

2. Articles XI-G, XI-H, and XI-I of the Constitution of
Maryland require that the General Assembly approve by Public
Local Law the Mayor and City Council of Baltimore's authority to
operate programs to provide certain types of loans and loan
guaranties; and therefore

In order to achieve the purpose of and to fully implement
the procedure authorized by Chapter 739 of 1982 with regard to
debt approval by the Mayor and City Council of Baltimore for the
programs envisioned by Articles XI-G, XI-H and XI-I, it is
necessary to enact by Public Local Law a continuing authorization
of the use of the proceeds of the City's debt for those purposes;
now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Article II of the Charter of Baltimore City, being
a part of the Public Local Laws of Maryland read(s) as follows:

Article II - General Powers

(59)(A) 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 OR ACQUISITION OR FEE SIMPLE INTERESTS, OR LESSER
INTERESTS IN LAND AND PROPERTY, AND FOR OR IN CONNECTION WITH