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Session Laws, 1971
Volume 707, Page 641   View pdf image
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Marvin Mandel, Governor                         641

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; empower-
ing 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 directing said County to contract to levy and to
levy, impose and collect annually ad valorem taxes which, in addi-
tion 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 addi-
tional 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 of Charles County, and the term "public schools" shall include
the construction, reconstruction, improvement, extension, acquisition,
alteration, repair and modernization of public school buildings or
buildings for school purposes in Charles County, including sites
therefor, the cost of acquiring any such sites, architectural and
engineering services, including preparation of plans, drawings and
specifications for such schools and the development of the grounds
and landscaping thereof, and all customary permanent appurte-
nances and recreational and pedagogical equipment for such schools.

Sec. 2. And be it further enacted, That the County is hereby
authorized and empowered to finance the construction of public
schools, as defined in Section 1 of this Act, for the use of the Board
of Education of Charles County 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 Ten Million Dollars
($10,000,000) and to evidence such borrowing 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 hereinafter set forth. Such bonds may be issued from time
to time, in one or more groups or series, as funds for such public
school construction or acquisition become necessary, provided, how-
ever, that the total debt which may be incurred pursuant to the
authority of this Act shall not exceed Ten Million Dollars
($10,000,000).

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

 

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Session Laws, 1971
Volume 707, Page 641   View pdf image
 Jump to  
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