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LAWS OF MARYLAND

Ch. 115

CHAPTER 115
(House Bill 1681)

AN ACT concerning

Washington County - Borrowing

FOR the purpose of providing the method and requirements

of borrowing by Washington County; and generally

relating to borrowing by Washington County; and
clarifying language.

BY repealing and reenacting, with amendments,

The Public Local Laws of Washington County
Section 8-14

Article 22 — Public Local Laws of Maryland
(1970 Edition and 1975 Supplement, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 8-14 of the Public Local Laws of
Washington County being Article 22 of the Public Local
Laws of Maryland (1970 Edition and 1975 Supplement, as
amended) be and it is hereby repealed and reenacted, with
amendments, to read as follows:

Article 22

8-14.

Whenever the amount of [taxes] REVENUE collected in
Washington County [shall be] IS insufficient to meet the
current expenses REQUIRED TO BE PAID, the County
Commissioners [of Washington County are hereby authorized
and empowered to] MAY borrow on the faith and credit of
Washington County [to meet the current expenses of said
county, for a period of time not to exceed six (6)
months, a sum or sums of money not to exceed three
hundred thousand dollars ($300,000), in the aggregate in
any one year, and the said] AND TO ISSUE FOR THE
INDEBTEDNESS, THE NOTE OR NOTES OF THE County
Commissioners, [are authorized and empowered to borrow
for capital improvements, construction, alteration,
reconditioning, or equipping said capital improvements, a
sum not to exceed four hundred thousand dollars
($400,000.00), for a period not to exceed three (3)
years; provided, however, that the aggregate indebtedness
incurred shall not at one time exceed the said sum of
four hundred thousand dollars ($400,000.00), and to issue
for said indebtedness the note or notes of the County
Commissioners of Washington County, said] THE note or