Subtitle 4 – Stocks and Certificates of Indebtedness
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 5, § 4-1 (2026)
§ 4-1 Records required.LinkCopy Citation
(a)In general.
It shall be the duty of the Director of Finance:
(1)
to open and keep regular and correct books for the registry and transfer of City stock and certificates of indebtedness; and
(2)
under the direction of the Board of Finance, to prepare a list of the owners in time for the punctual payment of the interest.
(b)Closing date for interest.
For this purpose, the transfer books shall be closed the 15<sup>th</sup> of the month previous to the day on which the interest is made payable.
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-2 (2026)
§ 4-2 Lost certificates — publication.LinkCopy Citation
In all cases of application for renewal of certificates of City stock or indebtedness of the City of Baltimore, where said certificates may have been lost or destroyed, the person making such application shall give at least 60 day’s notice by publication once a week, in 2 of the daily newspapers published in the City of Baltimore, describing such certificate or certificates, and at the same time, declaring his or her intention to make such application.
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-3 (2026)
§ 4-3 Lost certificates — bond.LinkCopy Citation
The Director of Finance shall, before he issues such duplicate certificate or certificates, require the person making such application to enter into a bond, with security to be approved by him, in double the amount of such certificate or certificates.
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-4 (2026)
§ 4-4 Faith and credit of City.LinkCopy Citation
The faith and credit of the Mayor and City Council of Baltimore and its corporate property are hereby pledged for the redemption of its stock and certificates of indebtedness and the payment of interest thereon, at such times as may be specified in the ordinances authorizing the same.
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-5 (2026)
§ 4-5 Sinking fund investments.LinkCopy Citation
(a)Government securities.
The Board of Finance is authorized and empowered in its discretion to invest moneys belonging to the various sinking funds for the redemption of the public debt of the City in certificates of indebtedness of the City, of the State of Maryland, or of the United States.
(b)Redeemable annuities or ground rents.
The Board of Finance is also authorized and empowered in its discretion to invest any of said moneys in the purchase of redeemable annuities or ground rents reserved out of lands heretofore leased to the Mayor and City Council of Baltimore and payable by said City, the conveyances thereof to be made to the Mayor and City Council of Baltimore, in trust for the benefit and purpose of said sinking fund in accordance with the provisions of <cite data-doc="City of Baltimore, Md., Charter" data-path="II|§(33)">Article II, § (33) of the Baltimore City Charter</cite>.
History: Ord. 1881-081
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-6 (2026)
§ 4-6 Consolidation of certificates.LinkCopy Citation
The Board of Finance is hereby authorized and empowered in its discretion to consolidate the several certificates of City stock or certificates of indebtedness held by it with any and every sinking fund under its care.
History: Ord. 46-406
Balt., Md., Code art. 5, § 4-7 (2026)
§ 4-7 Duties of Board Clerk.LinkCopy Citation
(a)To maintain accounts of sinking funds.
The Clerk to the Board of Finance is hereby authorized and directed to open accounts for all sinking funds wherein shall be entered full and detailed accounts of:
(1)
each sinking fund;
(2)
the amount thereof;
(3)
how invested;
(4)
the acts of the Board in relation thereto; and
(5)
all other facts necessary to a full succinct history of each fund.
(b)Other duties.
The Clerk shall also, under the direction of the Board of Finance, keep the books, accounts, and records of the office and perform such other duties as may be required.
History: Ord. 46-406