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Session Laws, 1945
Volume 589, Page 1636   View pdf image (33K)
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1636 LAWS OF MARYLAND. [CH. 951

1039G. For the purpose of acquiring the land improvements
or sites which in the discretion and judgment of the aforesaid
Board of County Commissioners may be needed to provide the
adequate off-street parking system authorized by this sub-title,
said Board may proceed either by way of negotiation for pur-
chase, lease, or lease and purchase, with the owners of the
properties in question, or said Board may proceed by way of
condemnation for the acquisition of such properties for the
public use.

1039H. The special taxes hereinabove authorized shall be
levied and collected, have the same priority rights, bear the
same interest and penalties and in every respect be treated the
same as County taxes.

1039-I In order to enable the County to exercise the au-
thority granted by Section 1 of this Act, the County Commis-
sioners of Montgomery County are hereby authorized to issue
at any time or from time to time certificates of indebtedness for
a term not exceeding six (6) years, and bonds for a term not
exceeding thirty (30) years, in a total aggregate amount not
to exceed Eight Hundred Thousand Dollars ($800, 000. 00); pro-
vided, however, that any certificates of indebtedness issued
hereunder may be refunded by bonds issued hereunder, in which
event the amount of certificates of indebtedness so refunded
shall not be included in any calculation of the aggregate
amount of obligations theretofore issued under the provisions
hereof.

Before borrowing any money or incurring any indebtedness
pursuant to the authority of this Act, or issuing any bonds or
certificates of indebtedness hereunder, the Board of County
Commissioners of Montgomery County shall adopt a resolu-
tion describing the purposes set forth in this Act for which
said borrowing or indebtedness is intended, the estimated
amount needed to finance said object or accomplish said pur-
pose, and determining to borrow money or incur indebtedness
for all or a part of the amount so needed, and to issue its
bonds or certificates of indebtedness to evidence such borrow-
ing. No referendum of or approval by the qualified voters of
the County of any such project or purpose, or of borrowing of
money, or incurring indebtedness therefor, or of the issuance
of said bonds or certificates of indebtedness, shall be required
as a condition precedent to the adoption of such resolution or
the issuance of any such bonds, and the authority hereby
granted is specifically exempted from the provisions of Section
224 of Article 16 of the Code of Public Local Laws of Maryland.
Said County Commissioners shall have and are hereby granted
full and complete authority and discretion to fix and determine
in such resolution the form and tenor of any such obligations,

 

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Session Laws, 1945
Volume 589, Page 1636   View pdf image (33K)
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