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Maryland Manual, 1969-70
Volume 174, Page 488   View pdf image (33K)
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488 MARYLAND MANUAL
Chapter 738.Acts of 1968
AN ACT to authorize and empower the County Commissioners for
Prince George's County, from time to time, to borrow not exceeding
eighty-eight million dollars ($88,000,000) in order to finance transit
facilities, as herein defined, including any part of said County's
share of contributions agreed to be made under any contracts or
agreements by the Washington Suburban Transit District to the
capital required for the construction and/or acquisition of transit
facilities in the Washington metropolitan area, as provided by Chap-
ter 870 of the Laws of Maryland of 1965, as amended from time
to time, and to effect such borrowing by the issuance and sale to
the highest bidder or bidders at public sale of its general obligation,
serial maturity coupon bonds in like par amount; empowering said
County to fix and determine, by resolution, the form, tenor, interest
rate or method of arriving at the same, terms, including redemption
and registration provisions, conditions, maturities and all other
details incident or necessary to the issuance, public sale and delivery
of said bonds, without reference to any other law heretofore
enacted; prescribing the method and manner of selling said bonds
at public sale; empowering said County to apply to the payment of
principal and interest of said bonds and said refunding bonds any
refund received from the State of Maryland and the United States
of America and any tax receipts or other funds, which may be
properly allocable to said purpose; empowering and directing said
County to contract to levy ana to levy, impose and collect annually
ad valorem taxes which, in addition to the State and Federal allot-
ments and tax receipts or other funds properly allocated to such
purpose, if any, will provide funds sufficient for the payment of said
refunding bonds and the interest; exempting said bonds and said
refunding bonds and the interest thereon from all State, county and
municipal taxation in the State of Maryland; and providing that the
power _ to incur indebtedness and issue bonds therefor under the
provisions of this Act is additional and alternative authority for
borrowing money and shall be regarded as supplemental and addi-
tional to powers conferred upon the County by other laws.
FOR ADOPTION AGAINST ADOPTION
74,415 45,903

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Maryland Manual, 1969-70
Volume 174, Page 488   View pdf image (33K)
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