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 (Department of Finance)
A BILL ENTITLED
AN ORDINANCE concerning
title
Parking Revenue Obligations - Authorized Aggregate Amount
FOR the purpose of increasing the maximum aggregate principal amount of Revenue Obligations authorized to be issued by the Mayor and City Council of Baltimore under Ordinance 83-998, as amended; and providing for a special effective date.
body
BY repealing and reordaining, with amendments
Ordinance 83-998
Section 3(A)(1)
(As last amended by Ordinance 98-276)
Recitals
Ordinance 83-998 (the “Ordinance”) authorizes the Mayor and City Council of Baltimore to issue from time to time its Revenue Obligations (as defined in the Ordinance) to finance Parking Facilities (as defined in the Ordinance) within the geographical limits of the City.
The aggregate principal amount of Revenue Obligations authorized by the Ordinance was $30,000,000. Subsequently, the aggregate principal amount of Revenue Obligations authorized to be issued under the Ordinance was increased by Ordinance 84-067 to $60,000,000, by Ordinance 84-221 to $76,000,000, by Ordinance 85-573 to $93,000,000, by Ordinance 86-702 to $108,000,000, by Ordinance 87-1036 to $120,000,000, by Ordinance 88-141 to $150,000,000, and most recently by Ordinance 98-276 to $225,000,000.
Certain events that have occurred since passage of the Ordi...
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