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[View page image to see text stricken out of bill]
Article XI-G - City of Baltimore - Rehabilitation and
Improvement Loans
Section 1
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, (Three-fifths of all the members elected to each
of the two Houses concurring), That it be proposed that
section(s) of the Constitution of Maryland be repealed,
amended, or added to read as follows:
Article XI-G - City of Baltimore -
[Rehabilitation and Improvement] RESIDENTIAL REHABILITATION
AND COMMERCIAL FINANCING Loans
1.
The General Assembly of Maryland, by public local law,
may authorize the Mayor and City Council of Baltimore:
(a) 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
residential or commercial purposes, or any combination
thereof, for or in connection with rehabilitating,
renovating, redeveloping; or improving said buildings or
structures] ANY PERSON OR OTHER LEGAL ENTITY TO BE USED FOR
OR IN CONNECTION WITH THE REHABILITATION, RENOVATION,
REDEVELOPMENT OR IMPROVEMENT OF BUILDINGS OR STRUCTURES
LOCATED WITHIN THE BOUNDARIES OF BALTIMORE CITY, WHICH
BUILDINGS OR STRUCTURES ARE TO BE USED OR OCCUPIED FOR
RESIDENTIAL PURPOSES.
(b) 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 residential or commercial purposes,
or any combination thereof, for or in connection with
rehabilitating, renovating, redeveloping or improving said
buildings or structures] ANY PERSON OR OTHER LEGAL ENTITY TO
BE USED FOR OR IN CONNECTION WITH THE REHABILITATION,
RENOVATION, REDEVELOPMENT OR IMPROVEMENT OF BUILDINGS OR
STRUCTURES LOCATED WITHIN THE BOUNDARIES OF BALTIMORE CITY,
WHICH BUILDINGS OR STRUCTURES ARE TO BE USED OR OCCUPIED FOR
RESIDENTIAL PURPOSES.
(C) 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 OF LEASEHOLD OR FEE SIMPLE
INTERESTS IN BUILDINGS OR STRUCTURES, AND FOR CONSTRUCTION,
RECONSTRUCTION, ERECTION, DEVELOPMENT, REHABILITATION,
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