3464                                             LAWS OF MARYLAND                                         Ch. 745

CHAPTER 745

(Senate Bill 631)

AN ACT concerning

Baltimore City - Enterprise Development Program

FOR the purpose of permitting the counties and municipalities of
this State and Baltimore City to implement local enterprise
development programs and to establish local enterprise
development funds in order to provide equity and to make and

guarantee loans for the establishment and growth of

enterprises; specifying certain criteria and limitations for

such equity investments, loans and loan guaranties;

authorizing the counties, municipalities and Baltimore City
upon certain conditions to issue and sell general obligation
bonds on their full faith and credit for appropriation to

their respective local funds, providing for the

administration of a local fund upon the termination of a

local program; declaring the public purposes of the

enterprise development program and making certain

legislative findings; defining certain terms; and relating

generally to an enterprise development program to be

implemented, administered and funded by the counties,

municipalities and Baltimore City.

BY adding to

Article - Financial Institutions

Section 13-401 through 13-409 to be under the new subtitle

"Subtitle 4. Enterprise Development Program"
Annotated Code of Maryland
(1980 Volume and 1983 Supplement)

FOR the purpose of permitting Baltimore City to implement an
enterprise development program and to establish an
enterprise development fund in order to provide equity and
to make and guarantee loans for the establishment and growth
of enterprises; specifying certain criteria and limitations
for such equity investments, loans and loan guaranties;
providing for the administration of the fund upon the
termination of the program; declaring the public purposes of
the enterprise development program and making certain
legislative findings; defining certain terms; and relating
generally to an enterprise development program to be
implemented, administered and funded by Baltimore City.

BY adding to

The Public Local Laws of Baltimore City

Section 27-1 through 27-8, to be under the new subtitle "27.
Enterprise Development Program"