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Session Laws, 1970
Volume 695, Page 1792   View pdf image
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1792                             Laws of Maryland                        Ch. 639

CHAPTER 639
(House Bill 1344)

AN ACT to authorize and empower the County Commissioners for
Prince George's County, from time to time, to borrow not exceeding
Seven Million Five Hundred Thirty Thousand Dollars ($7,530,000)
in order to finance the construction, acquisition, improvement or
extension of certain public facilities, as herein defined, and to
effect such borrowing by the issuance and sale to the highest
bidder or bidders at public sale of its general obligation, serial
maturity coupon bonds in like par amount; empowering said
County to fix and determine, by resolution, the form, tenor, in-
terest rate or method of arriving at the same, terms, including
redemption and registration provisions, conditions, maturities and
all other details incident or necessary to the issuance, public sale
and delivery of said bonds, without reference to any other law
heretofore enacted; prescribing the method and manner of selling
said bonds at public sale; empowering said County, subject to
certain limitations, to sell said bonds at, above or below the par
value thereof; empowering said County to refund any of said
bonds purchased or redeemed in advance of maturity; empowering
said County to apply to the payment of principal and interest
of said bonds and said refunding bonds any funds received from
the State of Maryland and the United States of America, which
may be properly allocable to said purpose; empowering and direct-
ing said County to contract to levy and to levy, impose and collect
annually ad valorem taxes which, in addition to the State and
Federal allotments, if any, will provide funds sufficient for the
payment of said maturing principal and interest; exempting said
bonds and said refunding bonds and the interest thereon from all
State, county and municipal taxation in the State of Maryland;
and providing that the power to incur indebtedness and issue
bonds therefor under the provisions of this Act is additional and
alternative authority for borrowing money and shall be regarded
as supplemental and additional to powers conferred upon the
County by other laws.

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 Commis-
sioners for Prince George's County, and the term "public facilities"
shall mean the following:

(a) the construction, improvement, repair, opening, relocation,
grading, resurfacing, widening, extension and drainage of all public
roads, streets, highways and sidewalks in the County now or here-
after maintained and operated by or under the jurisdiction of the
County, including the acquisition of necessary rights of way, the
acquisition of equipment for highway construction, maintenance
and repair and planning and engineering services; the planning,
design, construction and reconstruction of free bridges constituting
parts of said roads, streets, or highways; the planning, construction,
repair and permanent improvement of any storm water drainage
systems necessary in the County;

 

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Session Laws, 1970
Volume 695, Page 1792   View pdf image
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