§ (20). Parking facilities.

(a) Acquisition, development, etc.

Within the City of Baltimore to acquire, by purchase, lease, condemnation or any other legal means, land and property of any kind and establish, construct, erect, alter, expand, enlarge, improve, equip, repair, maintain, operate, control and regulate buildings, structures and other facilities thereon, thereunder or therein, or on, under or in any land or property that is now or hereafter may be owned or controlled by the Mayor and City Council of Baltimore, for storing, parking and servicing self-propelled vehicles, and establish and collect fees or charges for the use thereof; no petroleum products shall be sold or offered for sale at any entrance to, or exit from, any land so acquired or at any entrance to, or exit from, any structure erected thereon, when any entrance to, or exit from, any such land or structure faces a street or highway which is more than 25 feet wide from curb to curb; to vest jurisdiction or authority to exercise or perform any or all of the aforegoing powers in any suitable board, commission, department, bureau or other agency of the Mayor and City Council of Baltimore, and to create any such agency for such purposes.

(b) Property disposition.

To sell, lease, convey, transfer or otherwise dispose of any of said land or property regardless of whether or not it has been developed, redeveloped, altered or improved, and irrespective of the manner or means in or by which it may have been acquired, to any private, public or quasi-public corporation, partnership, association, person or other legal entity.

In addition to the powers granted and exercised under this article, the Mayor and City Council of Baltimore may, by ordinance, borrow money to finance the establishment, construction, erection, alteration, expansion, enlarging, improving, equipping, repairing, maintaining, operating, controlling, and regulating of off-street parking facilities owned by the Mayor and City Council of Baltimore, and evidence such borrowing by the issuance of revenue bonds, notes or other obligations to be secured by a pledge of the revenues derived from such facilities, and may further pledge revenues collected from parking taxes, parking fees or charges, parking fines or any other revenue derived from the parking of motor vehicles in the City of Baltimore to or for the payment of such revenue bonds, notes or other obligations; and for such purposes the Commissioners of Finance {Board of Finance} are empowered to maintain a fund consisting of the revenue pledged herein.

The bonds, notes or other obligations issued hereunder and the pledge of revenues, taxes, fees, charges or fines provided for herein shall not constitute a general obligation of nor a pledge of the faith and credit or taxing power of the Mayor and City Council of Baltimore and shall not constitute a debt of the Mayor and City Council of Baltimore within the meaning of Section 7 of Article XI of the Constitution of Maryland.

The ordinance may prescribe the form and terms of the bonds, notes or other obligations, the time and manner of public or private sale thereof, and the method and terms of payment therefor, and may authorize the Commissioners of Finance {Board of Finance} by resolution to determine any matters hereinabove recited and to do any and all things necessary or appropriate in connection with the issuance and sale thereof.