* 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 (Department of Finance)
A RESOLUTION ENTITLED
A RESOLUTION OF THE MAYOR AND CITY COUNCIL concerning
Title
Maryland Department of Transportation - County Transportation Revenue Bonds - Series 200_
FOR the purpose of authorizing the Mayor and City Council of Baltimore to enter into an agreement with the Maryland Department of Transportation in connection with the participation by the City in the proceeds derived from the sale of certain bonds, to be known as Department of Transportation of Maryland - County Transportation Revenue Bonds, Series 200 and to be issued pursuant to State Transportation Article, Title 3, Subtitle 5; authorizing the City to take any other action that may be necessary and proper to secure the share to which it is entitled of the proceeds derived from the sale of these bonds; and providing for a special effective date.
Body
Recitals
State Transportation Article, Title 3, Subtitle 5 (the "Enabling Law") authorizes the Maryland Department of Transportation (the "Department") to issue its bonds and to provide the Mayor and City Council of Baltimore (the "City") with funds to finance the City's share of the cost of certain transportation facilities, subject to the condition that the City enter into an appropriate agreement with the Department to secure the payment of the City's proportionate share of the principal of and interest on the bonds.
The City has notified the Department of its desire to participate in the proceeds of the se...
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