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Session Laws, 1959
Volume 642, Page 1094   View pdf image (33K)
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1094                             Laws of Maryland                       [Ch. 724

such project which shall then be outstanding and which shall then
have matured or be subject to redemption or can be acquired for
retirement.

84D. Any resolution or resolutions authorizing any such project,
or the issuance of any such revenue bonds therefor, may contain
provisions which may be made part of the contract with the holders
of such bonds and which may relate to the following:

(a)  recitals which may specify that the revenues received or
to be received from the project or projects the cost of which have
or are to be financed from the proceeds of any such issue of revenue
bonds, certificates or other evidence of indebtedness may not be
used to service any other revenue bonds authorized hereunder issued
to finance the cost of any other project or projects;

(b)  the construction, improvement, operation, extension, en-
largement, equipping, furnishing, maintenance and repair of any
project or projects and the duties of the County with reference there-
to;

(c)  the terms and provisions of the bonds;

(d)  any limitations on the purposes to which the proceeds of the
bonds then or thereafter to be issued, may be applied;

(e)  the rate of tolls, rentals, and other charges for the use of the
projects, including limitations upon the power of the County to
modify any leases or other agreements pursuant to which any tolls,
rentals or other charges are payable;

(f)  the setting aside of reserves or sinking funds and the regula-
tion and disposition thereof;

(g)  the limitations on the issuance of additional bonds;

(h) the terms and provisions of any deed of trust or indenture
securing the bonds or under which the same may be issued;

(i) the continuance of tolls, rentals and other charges for the
use of a project, and the use or application thereof, after all revenue
bonds issued to pay the cost of a project and the interest thereon
shall have been fully paid or provision made for such payment; and

(j) any other or additional agreements with holders of the bonds.

It is hereby found and declared that the provision of self-
liquidating projects, as defined in Section 84B, in Charles County,
including especially any factories or industrial plants leased to pri-
vate operators, will result in benefit to the public and that, accord-
ingly, the acquisition or construction of such projects by the County
Commissioners of Charles County are essential public purposes and
that all property acquired for any such project will constitute an
acquisition for public use. If, in the sole judgment of the County
Commissioners of Charles County, the sale of any such project or
of any of the property acquired therefor will further promote the
public interest by better securing the permanent establishment of
industry in the County, then such project and property may be sold
by the County, at public or private sale, provided only that the pro-
ceeds of such sale, plus any other funds available for the purpose,
shall be at least sufficient to fully liquidate any bonds issued by


 

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Session Laws, 1959
Volume 642, Page 1094   View pdf image (33K)
 Jump to  
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