Montgomery County                           2785

CHAPTER 25

(BILL NO. 53-70)

AN ACT authorizing the issuance of bonds of Montgomery County,
Maryland, in the principal amount not exceeding $1,100,000 upon
its full faith and credit for site acquisition and public buildings,
and the necessary furnishings and fixed permanent equipment
therefor, prescribing the terms and conditions, by reference, upon
which said bonds shall be issued and delivered and other inci-
dental details with respect thereto, and providing for the applica-
tion of the proceeds of such bonds and for the levy of unlimited
ad valorem taxes for the payment of the principal and interest
thereof.

Be It Enacted by the County Council for Montgomery County,
Maryland, that—

Sec. 1. Montgomery County, Maryland, is hereby authorized, at
any time and from time to time, upon full faith and credit to borrow
money and incur indebtedness in a total amount not exceeding
$1,100,000 for financing the construction, reconstruction, extension,
acquisition, improvement, enlargement, alteration, repair and modern-
ization of any structures to house any of the functions of or for
the use of County government or administration, including the ac-
quisition and development of sites therefor, the architectural and
engineering services incident thereto and the acquisition and instal-
lation of necessary furnishings and fixed permanent equipment
therefor. The proceeds from bonds issued pursuant to this Act may be
applied to the payment of the first six months' interest on said bonds.

Sec. 2. Sections 2-111 through 2-119, inclusive, of the Mont-
gomery County Code 1965, as amended, and each and every part of
such Sections, excepting therefrom only subsections (a), (b), (d)
and (e) of Section 2-111, be and they are hereby incorporated in this
Act, by reference, as a part hereof, it being the intention of the
County Council that said Sections shall be applicable in all respects
to the borrowing of money, the issuance of bonds, the application
of the proceeds of such bonds, and the levy of unlimited ad valorem
taxes for the payment of the principal and interest of the bonds
authorized by this Act.

Sec. 3. Any bonds issued and sold by the County pursuant to the
authority of this Act shall constitute and they shall so recite an
irrevocable pledge of the full faith and credit and unlimited taxing
power of the County. Montgomery County, Maryland, hereby cove-
nants and agrees that in each and every fiscal year in which any of
such bonds are outstanding, it will levy or cause to be levied ad
valorem taxes upon all the assessable property within the corporate
limits of the County in rate and amount sufficient to provide for the
payment, when due, of the interest on and principal of all such bonds