clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1968
Volume 683, Page 1536   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

1536                            LAWS OF MARYLAND                       CH. 751

lation of necessary furnishings and fixed permanent equipment there-
for.

(d) the establishment, construction, reconstruction, extension,
acquisition, improvement, enlargement, alteration and repair of
sanitary land fill projects for Dorchester County, together with in-
cinerators and other related structures, facilities and equipment in-
cluding the acquisition and development of sites therefor, the ac-
quisition of equipment for the operation and maintenance of such
sanitary land fill projects, and planning and engineering services.

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction and develop-
ment 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 in-
debtedness for such purpose, from time to time, in an amount not
exceeding the sum of Seven Hundred Fifty Thousand Dollars
($750,000), 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 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 development become necessary,
provided, however, that the total debt which may be incurred pur-
suant to the authority of this Act shall not exceed Seven Hundred
Fifty Thousand Dollars ($750,000).

Sec. 3. And be it further enacted, That subject to the foregoing
limitations, the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a resolu-
tion 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 in-
stallments, the last installment to mature not later than thirty (30)
years from the date of issue of said group or series. In said resolu-
tion, said County shall fix the annual serial maturity plan with re-
spect 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 not be in equal par amounts or in
consecutive annual installments. Subject to the limitations herein
contained, said County shall have and is hereby granted full and
complete authority and discretion to fix and determine, in said reso-
lution, the form and tenor of any such bonds, the rate or rates of
interest payable thereon, or the method of arriving at the same, the
date or dates upon which said bonds shall respectively mature and
be payable, the manner of selling said bonds at public sale, and
generally all matters incident or necessary to the issuance, sale and
delivery thereof. The bonds of each such issue shall be dated,
shall bear interest at such rate or rates not exceeding six per centum
(6%) per annum, payable semi-annually, shall mature at such time
or times as may be determined by said resolution, and said bonds
may, by said resolution, be made redeemable before maturity, at
the option of the County, at such price or prices and under such terms

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1968
Volume 683, Page 1536   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 11, 2023
Maryland State Archives