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Session Laws, 1970
Volume 695, Page 1793   View pdf image
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Marvin Mandel, Governor                       1793

(b)    the construction, reconstruction, extension, acquisition, im-
provement, enlargement, alteration, repair and modernization of
County health clinics, 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;

(c)    the construction, reconstruction, extension, acquisition, im-
provement, enlargement, alteration, repair and modernization of any
structures to house any of the functions of County government or
administration, especially, but not limited to public works buildings,
including the acquisition and development of sites therefor, the
architectural and engineering services incident thereto and the ac-
quisition and installation of necessary furnishings and fixed perma-
nent equipment therefor.

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction of public fa-
cilities, 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 Five Million Dollars
($5,000,000) for the purposes defined in Section 1(a) of this Act;

(b)    in an amount not exceeding the sum of One Million Nine
Hundred Ninety Thousand Dollars ($1,990,000) for the purposes
defined in Section 1 (b) of this Act;

(c)    in an amount not exceeding the sum of Five Hundred Forty
Thousand Dollars ($540,000) for the purposes defined in Section
1 (c) 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 here-
inafter set forth. Such bonds may be issued from time to time, in one
or more groups or series, as funds for such public facilities construc-
tion or acquisition become necessary, provided, however, that the
total debt which may be incurred pursuant to the authority of this Act
shall not exceed Seven Million, Five Hundred Thirty Thousand Dol-
lars ($7,530,000).

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 indebted-
ness is intended, the amount needed for said purposes in the aggre-
gate, and determining to borrow money or incur indebtedness 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 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

 

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Session Laws, 1970
Volume 695, Page 1793   View pdf image
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