WILLIAM DONALD SCHAEFER, Governor Ch. 492

CREATED IN CHARLES COUNTY PURSUANT TO ARTICLE 43, § 652, OF THE
ANNOTATED CODE OF MARYLAND, 1971 REPLACEMENT VOLUME, SHALL
REMAIN SPECIAL TAXING DISTRICTS FOR THE PURPOSE OF LEVYING
CHARGES, ASSESSMENTS AND AD VALOREM TAXES TO RETIRE THE
PRINCIPAL OF AND INTEREST ON BONDS THERETOFORE ISSUED UPON
THE FULL FAITH AND CREDIT OF THE CHARLES COUNTY SANITARY
DISTRICT, INC., AND BONDS ISSUED BY THE COUNTY COMMISSIONERS
PURSUANT TO THE AUTHORITY OF THIS SECTION.

F. BONDS.

(1) ISSUANCE AUTHORIZED; GENERAL REGULATIONS. FOR
THE PURPOSE OF PROVIDING FUNDS FOR THE DESIGN, CONSTRUCTION,
ERECTION, REPAIR, REPLACEMENT, ADDITION, EXTENSION,
BETTERMENT, PURCHASE OR CONDEMNATION OF AND TO WATER
SYSTEMS, SEWERAGE SYSTEMS, SOLID WASTE DISPOSAL SYSTEMS AND
SOLID WASTE ACCEPTANCE FACILITIES, ALL AS DEFINED IN ARTICLE 43,
§ 645, OF THE ANNOTATED CODE OF MARYLAND, 1971 REPLACEMENT
VOLUME, IN CHARLES COUNTY, THE COUNTY COMMISSIONERS MAY
ISSUE BONDS FROM TIME TO TIME UPON THE FULL FAITH AND CREDIT
OF THE COUNTY IN AMOUNTS THEY DEEM TO BE NECESSARY TO MAKE
IMPROVEMENTS CONSISTENT WITH THAT PURPOSE AND TO PROVIDE
THE FUNDS NECESSARY TO MEET THEIR COST. THE COST, WHICH SHALL
INCLUDE, WITHOUT LIMITATION, THOSE ELEMENTS OF COST AS THAT
TERM IS DEFINED IN ARTICLE 43, § 645, OF THE ANNOTATED CODE OF
MARYLAND, 1971 REPLACEMENT VOLUME, SHALL BE ESTIMATED AT THE
TIME OF THE ADOPTION OF A RESOLUTION BY THE COUNTY
COMMISSIONERS AUTHORIZING THE BONDS, BUT AT NO TIME SHALL
THE TOTAL ISSUE OF BONDS OUTSTANDING AND UNPAID, WHICH
RELATES TO IMPROVEMENTS IN ANY SPECIAL TAXING DISTRICT FOR
ALL PURPOSES UNDER THIS SUBSECTION, EXCEED TEN PERCENT (10%)
OF THE TOTAL VALUE OF THE PROPERTY ASSESSED FOR COUNTY
TAXATION PURPOSES WITHIN THE SPECIAL TAXING DISTRICT. THE
AUTHORIZING RESOLUTION SHALL PROVIDE THAT THE BONDS OF EACH
ISSUE SHALL BE DATED, SHALL BEAR INTEREST AT SUCH RATE OR
RATES AS MAY BE DETERMINED BY THE COUNTY COMMISSIONERS,
SHALL MATURE AT SUCH TIME OR TIMES, NOT EXCEEDING FORTY (40)
YEARS FROM THEIR DATE OR DATES OF ISSUE, AS MAY BE DETERMINED
BY THE COUNTY COMMISSIONERS AND MAY BE MADE REDEEMABLE
BEFORE MATURITY, AT THE OPTION OF 'THE COUNTY COMMISSIONERS,
AT SUCH PRICE OR PRICES AND UNDER SUCH TERMS AND CONDITIONS
AS MAY BE FIXED BY THE COUNTY COMMISSIONERS PRIOR TO THE
ISSUANCE OF THE BONDS. THE COUNTY COMMISSIONERS, BY SUCH
AUTHORIZING RESOLUTION, ALSO SHALL DETERMINE THE FORM OF
THE BONDS, INCLUDING ANY INTEREST COUPONS TO BE ATTACHED
THERETO, ANY PROVISIONS FOR REGISTRATION OF THE BONDS OR
COUPONS, THE MANNER OF EXECUTION OF THE BONDS, THE
DENOMINATION OR DENOMINATIONS OF THE BONDS, THE PLACE OR

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