EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: The Council President
At the request of: The Administration (Baltimore Development Corporation)
A BILL ENTITLED
AN ORDINANCE concerning
Title
Charles Village Special Obligation Bonds - Amending Ordinance 04-848
FOR the purpose of amending Ordinance No. 04-848 to modify the infrastructure improvements to be financed with the special obligation bonds authorized to be issued by Ordinance No. 04-848.
Body
BY repealing and reordaining, with amendments
Ordinance 04-848
Section(s) 1(g)
Recitals
Article II, Section (62) of the Baltimore City Charter (the "Tax Increment Act") authorizes the Mayor and City Council of Baltimore to establish a "development district" (as defined in the Tax Increment Act) and a special, tax increment fund into which the revenues and receipts from the real property taxes representing the levy on the "tax increment" (as defined in the Tax Increment Act) for the development district are deposited, for the purpose of providing funds for the development of the development district.
Pursuant to Ordinance No. 04-849 enacted by the City Council on November 22, 2004, and approved by the Mayor on November 29, 2004, the City has:
(i) designated the Charles Village Development District (the "Development District");
(ii) created the Charles Village Development District Tax Increment Fund;
(iii) provided that until special obligation bonds issued with respect to the De...
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