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Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 70   View pdf image (33K)
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70 LAWS OF MARYLAND [CH. 25

vided, however, that the Board of County Commissioners for Prince
George's County shall have no authority to obligate Prince George's
County for a sum in excess of One Million Dollars ($1, 000, 000. 00)
in the aggregate for the expenditures of the type described in this
Act.

464D (3) And be it further enacted, That, the County is hereby
authorized and empowered to finance the acquisition of land in
Prince George's County, Maryland, or interest in land which consti-
tutes or will
MAY constitute that portion of the George Washington
Memorial Parkway, including those lands and park areas shown with-
in the project taking lines for the said parkway, approved by the Na-
tional Capital Planning Commission, extending in Prince George's
County from Fort Washington to the southeasterly boundary line of
the District of Columbia as defined in section 1 of this Act, for the
use of the Board of County Commissioners of Prince George's
County and, in order to make such financing possible, said County
is hereby granted the power and authority to borrow money and
incur indebtedness for such purpose, from time to time, in an
amount not exceeding the sum of One Million Dollars ($1, 000, 000. 00)
and to evidence such borrowing by the issuance and sale upon its
full faith and credit of its serial maturity, general obligation coupon
bonds in like par amount, upon the terms and conditions herein-
after set forth. Such bonds may be issued from time to time, in
one or more groups or series, as funds for such acquisition of land
in Prince George's County, Maryland or interest in land which
constitute or will
MAY constitute that portion of the George Washing-
ton Memorial Parkway, including those lands and park areas shown
within the project taking lines for the said parkway, approved
by the National Capital Planning Commission, extending in Prince
George's County from Fort Washington to the southeasterly bound-
ary line of the District of Columbia as becomes necessary, pro-
vided, however, that the total debt which may be incurred pur-
suant to the authority of this Act shall not exceed One Million
Dollars ($1, 000, 000. 00).

464D (4) And be it further enacted, Thai, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolu-
tion describing the acquisition of land in Prince George's County,
Maryland or interest in land which constitute or will
MAY constitute
that portion of the George Washington Memorial Parkway, includ-
ing those lands and park areas shown within the project taking
lines for the said parkway, approved by the National Capital
Planning Commission, extending in Prince George's County from
Fort Washington to the southeasterly boundary line of the District
of Columbia for which said borrowing or indebtedness is intended,
the amount needed for said purposes, and determining to borrow
money or incur indebtedness for all or a part of the amount so
needed, and to issue its bonds to evidence such borrowing or in-
debtedness. Each series or group of said bonds shall be issued to
mature in annual serial installments, the last installment to ma-
ture not later than thirty (SO) years from the date of issue of
said group or series. In said resolution, said County shall fix the
annual serial maturity plan with respect to the bonds to be issued
thereunder and said annual serial maturities shall be so fixed as
to conform to the general financial plans of the County but need



 

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Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 70   View pdf image (33K)
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