§ 10-11 Revenues.
Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Pub. Local Laws § 10-11 (2026)
§ 10-11 Revenues.LinkCopy Citation
(a)Rates and charges.
The Authority is hereby authorized to fix and revise from time to time rates or charges for the use of the facilities of the Market, including parking facilities, and to charge and collect the same, and to contract with any person, partnership, association or corporation desiring the use of any of the facilities of the Market or any part thereof, and to fix the terms, conditions and rates of charges for such use.
(b)Requirements.
Such rates or charges shall be so fixed and adjusted as to provide a fund sufficient with other revenues of the Market, if any, to pay
(1)
the cost of maintaining, repairing and operating the Market unless such cost shall be otherwise provided for, including reserves for such purposes and for replacements, depreciation and necessary extensions, and
(2)
the bonds and the interest thereon as the same shall become due, and reserves for such purpose.
Such rates or charges shall not be subject to supervision or regulation by any other State or City commission, board, bureau or agency.
The rates, charges and all other revenues derived from the Market, except such part thereof as may be required to pay the cost of maintaining, repairing and operating the Market and to provide such reserves as may be provided for in the resolution authorizing the issuance of the bonds or in the trust indenture, shall be set aside at such regular intervals as may be provided in such resolution or such trust indenture, in a sinking fund which is hereby pledged to, and charged with payment of,
(1)
the interest upon such bonds as such interest shall fall due,
(2)
the principal of the bonds as the same shall fall due,
(3)
the necessary fiscal agency charges for paying principal and interest, and
(4)
any premium upon bonds retired by call or purchase as herein provided.
The use and disposition of such sinking fund shall be subject to such regulations as may be provided in the resolution authorizing the issuance of bonds, or in the trust indenture, but, except as may otherwise be provided in such resolution or trust indenture, such sinking fund shall be a fund for the benefit of all bonds without distinction or priority of one over another.
Subject to the provisions of the resolution authorizing the issuance of bonds or of the trust indenture, any monies in such sinking fund in excess of an amount equal to one year’s interest on all bonds then outstanding may be applied to the purchase or redemption of bonds. All bonds so purchased or redeemed shall forthwith be cancelled.
(c)Exception for cleaning market.
Notwithstanding the aforegoing provisions of <cite data-path="10|§10-11">this section</cite>, the Mayor and City Council may at its discretion, by ordinance, provide for cleaning the Market and removing garbage therefrom, subject to such limitations, terms and conditions as the Mayor and City Council may in its discretion determine, but such ordinance shall not have the force of a contract with the bondholders and shall be subject to amendment or repeal at anytime.