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Session Laws, 1974
Volume 713, Page 2764   View pdf image
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2764                                          LAWS OF MARYLAND                      [Ch. 829

the payment of architects' and engineers' fees;
providing for the levy of taxes in Calvert County
for the payment of principal and interest on such
bonds; and providing for the payment of principal
and interest on such bonds from available County
funds under certain circumstances.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Calvert County
are authorized and empowered to borrow, after January 1,

1975, at one time, or from tine to time, on the faith and
credit of Calvert County, a sum or sums not exceeding in
the aggregate [[Seven Hundred Fifty Thousand Dollars

($750,000) ]] One Million Dollars ($1,000,000), and to

issue and sell bonds therefor, the proceeds thereof to be
used for assisting in the equipping and maintaining of
fire departments, rescue squads, annexes or substations
within the County; and assisting in construction and
renovation projects of said fire departments, rescue
squads, annexes or substations, including the acquisition
of land and the payment of architects' and engineers'
fees; and to pay all expenses, including advertising,
printing and legal fees, incurred in the issuance and
sale of any bonds hereunder, the said amount so borrowed
to be used for no other purpose whatsoever. The proceeds
distributed to fire departments, rescue squads, annexes
or substations shall be paid in accordance with a plan
approved by the Fire and Rescue Commission established in
Section 175 of the Code of Public Local Laws of Calvert
County (1963 Edition and 1970 Supplement), being Article
5 of the Code of Public Local Laws of Maryland; as
enacted by Chapter 594 of the Acts of the Regular Session
of the General Assembly of 1973.

SECTION 2. AND BE IT FURTHER ENACTED, That the
County Commissioners shall by proper resolution fix the
maturity or maturities of any such bonds, provided,
however, that no bonds so issued shall mature later than
thirty years from the date of their issue, and provided
further that any such bonds shall be issued on the serial
maturity plan: such resolution may fix the denomination
or denominations in which said bonds shall be issued, the
interest rate or rates of said bonds or the manner of
determining the same, the manner and place of payment,
the date, place and terms of the sale of the bonds, and
all details not herein otherwise provided for with
respect to the form, issuance and sale thereof; said
bonds shall be signed by the President of the County
Commissioners and by the Treasurer of Calvert County, and
the seal of the County shall he affixed thereto. Said
bonds may be registrable as to principal. Said bonds
shall be in coupon form, and the coupons may be

 

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Session Laws, 1974
Volume 713, Page 2764   View pdf image
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