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Session Laws, 1961
Volume 654, Page 449   View pdf image (33K)
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J. MILLARD TAWES, GOVERNOR                            449

CHAPTER 346
(Senate Bill 476)

AN ACT to add ten new sections to Article 77 of the Annotated Code
of Maryland (1957 Edition), title "Public Education", sub-title
"University of Maryland", said new sections to be known as Sec-
tions 259A to 259J, inclusive, of said Article and to follow im-
mediately after Section 259 of said Article, authorizing the Uni-
versity of Maryland to construct, equip, maintain and operate one
or more buildings to provide additional housing facilities, living
accommodations, and facilities, including an addition or additions
to the student union building in Baltimore, to impose fees, rents
and charges for the use thereof, and authorizing the University of
Maryland to issue revenue bonds to pay the cost of all or any part
of such project or projects, the principal thereof and the interest
thereon to be payable solely from the fees, rents and charges for
the use of the facilities provided by the buildings constructed with
the proceeds of said bonds except for interest prior to, during and
for one year after completion of construction, providing that in-
terest during such period may be paid out of bonds proceeds and/or
out of such other moneys as may be allocated for such purpose, and
providing that the said bonds in no way be the debt or obligation
of the State of Maryland or any subdivision thereof, except said
University, and exempting said bonds from taxation, and relating
generally to additional housing facilities and the issuance of reve-
nue bonds to pay the cost of all or any part of the same.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 259A-259J, inclusive, be and the same hereby are
added to Article 77 of the Annotated Code of Maryland (1957
Edition), title "Public Education", sub-title "University of Mary-
land", said new sections to follow immediately after Section 259 of
said Article, and to read as follows:

259A. As used in Sections 259A-259J, inclusive, in this sub-title,
the following words and terms shall have the following meaning,
unless the context shall indicate another different meaning or intent:
(1) the word "resolution" shall mean a resolution adopted by a ma-
jority of the members of the Board of Regents of the University of
Maryland; (2) the word "costs" as applied to any project shall
embrace the cost of construction, the cost of the acquisition of all
land, rights of way, property rights, easements and interests acquired
by the University of Maryland for such construction, the cost of all
machinery and equipment, financing charges, interest prior to and
during construction and for one year after completion of construction,
the cost of engineering and legal expenses, plans, specifications,
surveys, estimates of costs and revenue, other expenses necessary or
incident to determining the feasibility or practicability of construc-
tion of any project, administrative expenses, and such other expense
as may be necessary or incident to the construction of any project,
the financing of such construction and the placing of any such project
in operation. Any obligation or expense heretofore or hereafter in-
curred by said University for preparation of plans and specifications,
and other engineering services in connection with the construction of
any such project shall be regarded as a part of the cost of such project
and may be reimbursed to said University out of the proceeds of


 

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Session Laws, 1961
Volume 654, Page 449   View pdf image (33K)
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