WILLIAM DONALD SCHAEFER, Governor Ch. 400
Approved May 2, 1990.

CHAPTER 400
(House Bill 1519)

AN ACT concerning

Cecil County - School Bonds

FOR the purpose of authorizing and empowering the County Commissioners of Cecil
County, from time to time, to borrow not more than $3,400,000 in order to finance
the cost of certain school facilities in Cecil County, as herein defined, and to
effect such borrowing by the issuance and sale at public or private sale of its
general obligation bonds in like par amount; empowering the County to fix and
determine, by resolution, the form, tenor, interest rate or rates or method of
determining the same, terms, conditions, maturities and all other details incident
to the issuance and sale of the bonds; empowering the County to issue refunding
bonds for the purchase or redemption of bonds in advance of maturity;
empowering and directing the County to levy, impose and collect, annually, ad
valorem taxes in rate and amount sufficient to provide funds for the payment of
the maturing principal of and interest on the bonds; exempting the bonds and
refunding bonds, and the interest thereon and any income derived therefrom,
from all State, county, municipal and other taxation in the State of Maryland; and
relating generally to the issuance and sale of the bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used herein, the term "County" means the body politic and
corporate of the State of Maryland known as the County Commissioners of Cecil
County, and the term "school facilities" means the costs of repair, renovation, and
construction, together with any related architectural, financial, legal, planning or
engineering services, for the Rising Sun Elementary School in Cecil County.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the facilities described in Section 1
of this Act, and to borrow money and incur indebtedness for that purpose, at one time
or from time to time, in an amount not exceeding, in the aggregate, $3,400,000 and to
evidence its borrowing by the issuance and sale upon its full faith and credit of general
obligation bonds in like par amount, which may be issued at one time or from time to
time, in one or more groups or series, as the County may determine.

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall be issued
pursuant to a resolution of the County which shall describe generally the school
facilities for which the proceeds of the bond sale are intended and the amount needed
for those purposes. The County shall have and is hereby granted full and complete

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