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Session Laws, 1967
Volume 681, Page 1599   View pdf image (33K)
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SPIRO T. AGNEW, Governor                        1599

Section 1. Be it enacted by the General Assembly of Maryland,
That, as used herein, the term "County" shall mean the body politic
and corporate of the State of Maryland known as the County Com-
missioners of Queen Anne's County, and the term "public facilities"
shall mean the following:

(a)    the acquisition, development and improvement of land for
use as public parks, playgrounds and recreation areas, including the
construction of related structures and buildings, the architectural and
engineering services incident thereto and the installation of fixed
permanent equipment therefor.

(b)    the construction, reconstruction, extension, acquisition,
improvement, enlargement, alteration, repair and modernization of
county libraries, including the acquisition and development of sites
therefor, the architectural and engineering services incident thereto
and the acquisition and installation of necessary furnishings and
fixed permanent equipment therefor.

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction and acquisition
of public facilities, as defined in Section 1 of this Act, and in order to
make such financing possible, said County is hereby granted the
power and authority to borrow money and incur indebtedness as
follows:

(a)    in an amount not exceeding the sum of Two Hundred
Fifteen Thousand Dollars ($215,000.00) for the purposes defined in
Section 1 (a) of this Act; and

(b)    in an amount not exceeding the sum of One Hundred Ten
Thousand Dollars ($110,000.00) for the purposes defined in Section
1(b) of this Act.

Sec. 3. And be it further enacted, That, the County shall evidence
the borrowing authorized by this Act 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
hereinafter set forth. Such bonds may be issued from time to time,
in one or more groups or series, as funds for such public facilities
construction or acquisition become necessary, provided, however, that
the total debt which may be incurred pursuant to the authority of
this Act shall not exceed Three Hundred Thousand Dollars
($300,000).

Sec. 4. And be it further enacted, That, 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
resolution describing the public facilities for which said borrowing
or indebtedness is intended, the amount needed for said purposes in
the aggregate, and determining to borrow money or incur indebted-
ness for all or a part of the amount so needed, and to issue its bonds
to evidence such borrowing or indebtedness. Each series or group
of said bonds shall be issued to mature in annual serial installments,
the last installment to mature not later than thirty (30) 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

 

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Session Laws, 1967
Volume 681, Page 1599   View pdf image (33K)
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