12 LAWS OF MARYLAND [CH. 7
amount before said bonds or certificates of indebtedness shall be
issued; and
WHEREAS, Chapter 620 of the Acts of 1953 was, as by its terms pro-
vided, submitted to the qualified voters of Baltimore County at the
General Election held on November 2, 1954, and was approved by a
majority of the votes cast at such election on said question; and
WHEREAS, It was the intention of the General Assembly, in enact-
ing Chapter 620 of the Acts of 1953, to except from its provisions all
bonds issued and to be issued for the purpose of borrowing funds for
the improvement of the Metropolitan District of Baltimore County
created under Chapter 539 of the Acts of the General Assembly of
Maryland passed at its January Session in the year 1924, as amended,
by the use of the words "self-liquidating bonds"; now therefore,
SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 356 of the Code of Public Local Laws of Baltimore
County (1953 Supplement), being Article 3 of the Code of Public
Local Laws of Maryland, being in Title 23, "Public Works, " and last
amended by Chapter 131 of the Acts of 1953, be and the same is
hereby repealed and re-enacted, with amendments, to read as follows:
356. For the purpose of providing funds for meeting the ex-
penses of the Commissioners and for designing and construction,
purchase or acquisition of the water supply, sewerage and drainage
systems provided for by this section, the Commissioners shall from
time to time, as they deem necessary, issue bonds upon the faith and
credit of Baltimore County. Except as hereinafter provided said
County Commissioners shall offer said bonds only by solicitation of
competitive bids therefor at public sale, which offering, except as
herein otherwise provided, shall be made in accordance with the
provisions of Section 33 of Article 31 of the Code of Public General
Laws of Maryland (1951 Edition). Said County shall, by ordinance
or resolution, fix the terms and conditions of the public sale or sales
of such bonds and said ordinance or resolution shall adopt suitable
forms of notice of such sale or sales which shall briefly outline the
terms and conditions thereof in accordance with the provisions of
this section. In lieu of publishing said entire notice of sale, in any
instance, said County Commissioners may, if it so elects, in any
such ordinance or resolution provide for the publication of a brief
summary of any such notice which need not contain all or any of the
information called for by said Section 33 of Article 31 but which
shall state where interested parties may obtain a complete copy of
any such notice of sale. Each such notice of sale may also contain
a brief summary of pertinent current financial information or indi-
cate from whom such information may be obtained. And all accrued
interest between the date of said bonds and the time of sale and
delivery of and payment for said bonds shall be adjusted with the
purchasers thereof. Upon the day mentioned in any such notice of
sale or summary thereof for opening the bids for the proposals
thereby called for, the County Commissioners shall receive such
sealed proposals for the purchase of such bonds as may be designated
in the notice of sale or summary thereof. Subject to the provisions
of Section 356A of this Code, upon the opening in public of such
sealed proposals as many of said bonds as may have been so bid for
shall be awarded by the County Commissioners of Baltimore County
|
|