4822

MUNICIPAL CHARTERS

Poolesville that the Charter of The Commissioners of
Poolesville, a municipal corporation of the State of
Maryland, be and the same is hereby amended by adding a
new Section 82-16(d) to the Montgomery County Code (1972
Edition, as amended) to read as follows:

82-16

(D) WITHOUT IN ANY WAY LIMITING THE GENERALITY
OF THE FOREGOING PROVISIONS OF THIS SECTION, IT IS
EXPRESSLY FOUND, DETERMINED AND RECOGNIZED THAT THE TERM
"PROPER PUBLIC PURPOSE" FOR WHICH BOND ANTICIPATION NOTES
OR GENERAL OBLIGATION BONDS MAY BE ISSUED PURSUANT TO
SUCH FOREGOING PROVISIONS INCLUDES THE PERMANENT
FINANCING OF THE COSTS OF ALL OR ANY PART OF A SEWERAGE
SYSTEM AND WATER SUPPLY AND DISTRIBUTION SYSTEM IN ANY
CASE WHERE THE OBLIGATIONS INITIALLY ISSUED OR INCURRED
BY THE COMMISSIONERS OF POOLESVILLE TO FINANCE SUCH
PROJECTS HAD A TERM OF 10 YEARS OR LESS (OR IN THE
ABSENCE OF A STATED TERM, THE PERIOD DURING WHICH SUCH
OBLIGATION IS OUTSTANDING AND UNPAID IS 10 YEARS OR
LESS), SUCH PERMANENT FINANCING TO INCLUDE (WITHOUT
LIMITATION) THE REFINANCING (BY REFUNDING IN ADVANCE OF
THE STATED MATURITY OF SUCH OUTSTANDING OBLIGATIONS OR
OTHERWISE) OF $550,000 AGGREGATE PRINCIPAL AMOUNT OF 9%
GENERAL OBLIGATION BONDS ISSUED BY THE COMMISSIONERS OF
POOLESVILLE IN NOVEMBER, 1969 AND THEREAFTER AND MATURING
IN NOVEMBER, 1974 AND RELATED OBLIGATIONS NOT EXCEEDING
$150,000 INCURRED TO PAY COSTS OF THE POOLESVILLE
SEWERAGE SYSTEM AND WATER SUPPLY AND DISTRIBUTION SYSTEM;
PROVIDED, HOWEVER, THAT

(1) THE SUM OF (A) THE ORIGINAL TERM (OR IN
THE ABSENCE OF A STATED TERM, THE PERIOD DURING
WHICH SUCH OBLIGATION IS OUTSTANDING AND UNPAID) OF
THE OBLIGATIONS BEING REFINANCED AND (B) THE TERM OF
THE REFINANCING BONDS SHALL NOT EXCEED THE MAXIMUM
TERM PERMITTED FOR BONDS OF THE COMMISSIONERS OF
POOLESVILLE UNDER PUBLIC GENERAL LAW AND (2) IN ALL
OTHER RESPECTS SUCH REFINANCING BONDS SHALL BE
AUTHORIZED, ISSUED, SOLD AND DELIVERED AS PROVIDED
IN THIS SECTION.

Section 2. BE IT FURTHER RESOLVED that the date of
the adoption of this Resolution is April 22, 1974, that a
complete and exact copy of this Resolution shall be
posted in the town office through June 1, 1974, and that
a copy of the Title of this Resolution shall be published
in a newspaper of general circulation in the Town of
Poolesville not less than four (4) times, at weekly
intervals, before June 1, 1974.

Section 3. AND BE IT FURTHER RESOLVED that at the
time the Charter amendment hereby adopted shall become