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, 1969
Volume 692, Page 1664   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

1664                            LAWS OF MARYLAND                      [CH. 767

to be under a new subtitle to be known as "State Roads Commis-
sion—County Highway Construction Bonds—Second Issue," said
new section to follow immediately after Section 211G authorizing
the State Roads Commission to issue bonds to be known as "State
Roads Commission—County Highway Construction Bonds—Second
Issue," the proceeds of which are to be used for construction,
reconstruction, and major repairs to the road system of the several
counties under certain conditions and providing for the payment
of the principal and interest on such bonds as they mature and
providing generally for the authorization, sale and amortization
of State Roads Commission—County Highway Construction
Bonds—Second Issue.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That new Section 211-G1 be and it is hereby added to Article 89B of
the Annotated Code of Maryland (1964 Replacement Volume), title
"State Roads," to be under a new subtitle to be known as "State
Roads Commission—County Highway Construction Bonds—Second
Issue," said new section to follow immediately after Section 211G
thereof, and to read as follows:

211G-1.

(a)    In order to enable the several counties of the State to ac-
celerate programs of construction and reconstruction and to make
major road repairs necessary to eliminate damage caused by severe
and unforeseen weather conditions of county roads, any county in the
State of Maryland may participate in the proceeds of the sale of bonds
by the State Roads Commission authorized by this subtitle. The
Commission, when notified by any county of the State as hereinafter
provided, is hereby authorized to borrow money from time to time
as hereinafter limited and to evidence such borrowing by the issue of
its bonds in form and tenor substantially as provided in Sections
211B and 211D of this Article and to disburse the proceeds of said
borrowing and pay the principal and interest of said bonds as
hereinafter provided. Said bonds shall be known as "State Roads
Commission
County Highway Construction BondsSecond Issue."
The bonds may be issued by the Commission from time to time
subject to the limitations herein provided. However, the bonds issued
pursuant to this subtitle shall not be included in or
BE CONSID-
ERED a part of the amounts the Commission is authorized to issue
pursuant to the authority granted in Section 211B of this Article.

(b)    The authority herein granted shall be deemed to be con-
tinuing from year to year but limited in amount as hereinafter
provided.
THE FOLLOWING MANNER:

(1)    Any such county, not later than April 1 of each year, may
notify the Commission of its desire to participate in the proceeds of
a series of bonds to be issued under this subtitle in the next
succeeding fiscal year and