Wicomico County 2443
6. Addition and Remodeling Pinehurst School................ 128,389.00
7. Equipment for Projects Nos. 1-6.................................. 75,000.00
8. Contingency Fund, Projects Nos. 1-7.......................... 75,000.00
9. Spill-Way Dam—Mardela ............................................ 60,000.00
10. Wicomico County Health Center.................................. 80,000.00
11. West Side Park, Land acquisition and development .. 20,000.00
12. Leonards Mill Pond Park development costs.............. 10,000.00
13. Adkins Pond Development............................................ 7,500.00
14. Salisbury-Wicomico County Airport, planning, land
acquisition and development .................................... 136,500.00
15. Maryland Mental Retardation Center,
land acquisition, utility extensions and
development ................................................................ 175,000.00
16. Wicomico Nursing Home project, improvement and
expansion .................................................................... 90,000.00
Item Number 7 above, being equipment for the above mentioned school
projects in the amount of Seventy-Five Thousand Dollars ($75,000.00),
shall be expended for said equipment as determined jointly by the County
Council and the Board of Education. Item Number 8 above, being
Contingency Fund in the amount of Seventy-Five Thousand Dollars
($75,000.00) shall be used to pay any differences between the actual cost
of any one or more of the above listed school projects and the respective
amount above allocated to each. Said fund shall also be used to pay the
expenses of any bond issue hereunder. Any excess of any such amount of
the actual cost of a school project shall be credited to the Contingency
Fund and said Contingency Fund shall likewise be credited with any
appropriation transfers or any supplementary appropriations made by the
County Council in Executive Session to meet any increase in the cost of any
of the above-listed projects. If, upon completion of the above-listed
projects, there shall be a balance remaining in said Contingency Fund,
said balance shall be credited to the Capital Program for the fiscal year
following the year in which said balance is ascertained.
Section 3. AND BE IT FURTHER ENACTED, that the bonds hereby
authorized may be issued at one time or from time to time, separately or in
conjunction with other bonds the County may be authorized to issue, all
as may be determined by one or more ordinances adopted by the County
Council in Executive Session. Prior to passage of any such ordinance,
the County Council shall obtain a certificate from the Director of Finance
that the limitation on indebtedness contained in the County Charter will
not be exceeded by the issuance of bonds in the amount contemplated and
the County Council shall also obtain a certificate from the County Attorney
that the authority hereby conferred for the contemplated bond issue has
not been previously exercised and that such authority has not been
repealed, revoked or suspended in accordance with the County Charter.
Each such ordinance shall fix, prescribe and determine the title, date of
issue, and denomination of said bonds, the form, tenor and manner of
executing the same, the place or places of payment thereof and of the
interest to accrue thereon, the agent or agents of the County to make such
payment, the reserved right, if any, to redeem any such bonds prior to
maturity and the premium or premiums, if any, payable upon the exercise
of said right, the rate or rates of interest payable on said bonds, or the
method of determining the same, provided, however that:
(a) no such bonds shall be sold at a price less than the par value
thereof;
|
|