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, 1971
Volume 707, Page 481   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

Marvin Mandel, Governor                         481

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 of Charles County, and the term "completion of construction
and development" of the Gilbert Run Regional Park but not be limited
to the installation of underground electrical wiring, the construction
and reconstruction including architectural and engineering services,
the preparation of plans, drawings and specifications incident thereto;
the acquisition and installation of fixed equipment therefor, the ex-
tension, alteration, enlargement and improvement, the opening,
grading, resurfacing, repairing and the modernization of the roads,
parking areas, the water supply and sanitary facilities of the Gilbert
Run Regional Park.

Sec. 2. And be it further enacted, That the County is hereby
authorized and empowered to finance the completion of construction
and development of the Gilbert Run Park, 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 for such purpose, from time to time, in an amount not
exceeding the sum of Two Hundred Fifty Thousand Dollars
($250,000.00) and to evidence such borrowing by the issuance and
sale upon its full faith and credit of its general obligation 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 the completion of construction and
development become necessary, provided; however, that the total debt
which may be incurred pursuant to the authority of this Act shall
not exceed Two Hundred Fifty Thousand Dollars ($250,000.00).

Sec. 3. 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 generally the completion of construction and development
of the Gilbert Run Park for which said borrowing or indebtedness is
intended, the amount needed for said purposes, 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 at such time or times, not exceeding fifty (50) years from
the date of issue of said group or series, as may be determined by
said County in said resolution. 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 resolu-
tion, 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, either at public or
private 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, payable
annually, shall mature at such time or times as may be determined

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1971
Volume 707, Page 481   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