[HISTORY: Adopted by the Mayor and Council of the City of
Hyattsville 12-15-1980 by HB No.
25-80. Amendments noted where applicable.]
[Amended 9-7-1982 by
HB No. 20-82]
The authority to issue bonds pursuant to the provisions of the
Maryland Economic Development Revenue Bond Act of the Annotated Code
of Maryland, Article 41, § 266A et seq., shall be vested
in the Mayor and Council.
Such bonds shall only be issued after a hearing before the Mayor
and Council and a determination that the issuance of such bonds would
accomplish one or more of the following purposes:
A.
Promote economic development and growth.
B.
Relieve conditions of unemployment.
C.
Encourage a balanced economy.
D.
Assist in the retention of existing industry.
E.
Protect the environment.
F.
Attract new industry.
G.
Benefit or safeguard the health, safety or welfare of the citizens
of the City.
[Amended 9-7-1982 by
HB No. 20-82]
Issuance of such bonds shall be pursuant to a resolution, which
shall comply with the requirements of the Maryland Economic Development
Revenue Bond Act. Each such resolution shall be set out in numerical
sequence on an official list maintained by the Clerk.
