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Session Laws, 1967
Volume 681, Page 1235   View pdf image (33K)
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SPIRO T. AGNEW, Governor                      1235

and, finally, shall reserve unto the County the right to reject any or
all bids received. In lieu of publishing said entire notice of sale, the
County may, if it shall so elect in said resolution, publish a brief
summary of said notice which need not contain all the information
required for said notice of sale but which shall state where interested
parties may obtain a complete copy thereof.

Sec. 4. And be it further enacted, That before borrowing any
money or issuing any bonds pursuant to the authority of this Act, the
County shall adopt, in addition to or as a part of any other resolution
required by this Act, a resolution (i) determining the fire company
or companies to which the proceeds of the bonds authorized by this
Act shall be paid by the Treasurer of Prince George's County (or
such other officer of the County designated to receive payment for
the bonds in a resolution passed by the Board of County Commis-
sioners for Prince George's County pursuant to Section 5 of this Act)
and (ii) prescribing the terms and conditions upon which the
proceeds of the bonds authorized by this Act shall be made available
for use by such fire company or companies. The County may provide
by such resolution that (i) in addition to the fact that the bonds
authorized hereunder are an irrevocable pledge of the full faith and
credit of the entire County, the principal of and interest on such
bonds shall be paid primarily from the fire taxes levied pursuant to
subtitle 32 of the Code of Public Local Laws of Prince George's
County (1963 Edition, as amended, being Article 17 of the Code of
Public Local Laws of Maryland), and (ii) before disbursing any
fire taxes levied pursuant to such subtitle, the appropriate fiscal
officer of the County may withhold a sufficient amount from those
fire taxes to be disbursed to any fire company to provide for the
payment of the principal of and interest on bonds issued by the
County to finance the construction of a fire engine house or fire
engine houses for such fire company, such disbursements to be in
accordance with the limitations, terms and conditions of subtitle 32
of the Code of Public Local Laws of Prince George's County, as
amended from time to time.

Sec. 5. And be it further enacted, That the money so borrowed
for the fire engine houses described in said resolution above required,
in evidence of which any such bonds shall be issued, shall be paid to
the Treasurer of Prince George's County (or to such other official of
the County designated to receive such payment in a resolution passed
by the Board of County Commissioners for Prince George's County
before such delivery) and shall be used exclusively and solely for
such fire engine houses. In the event the amounts so borrowed shall
prove inadequate for the financing of any such fire engine houses,
at any time, the County may issue additional bonds within the
limitations hereof for the purpose of evidencing the borrowing of
additional funds for any such fire engine houses, provided the
resolution for authorizing the additional bonds shall so recite, but if
the funds derived from the sale of any issue of said bonds shall
exceed the amount needed to finance the fire engine houses described
in said resolution, the excess funds so borrowed shall be applied by
said County in payment of the next principal maturity of the bonds
so issued or to the redemption of any part of said bonds, if the same
shall have been made redeemable.

 

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Session Laws, 1967
Volume 681, Page 1235   View pdf image (33K)
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