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105
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MARVIN MANDEL, Governor
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which requires the Secretary to exercise the
powers granted by this title, is deleted as
unnecessary in light of the general provisions
of Title 2, Subtitle 1 of this article.
(C) COST.
"COST", AS APPLIED TO ANY TRANSPORTATION FACILITIES
PROJECT, INCLUDES THE COST OF AND ALL EXPENSES INCIDENT
TO THE CONSTRUCTION, RECONSTRUCTION, ACQUISITION,
IMPROVEMENT, EXTENSION, ALTERATION, MODERNIZATION,
PLANNING, MAINTENANCE, AND REPAIR OF THE PROJECT,
INCLUDING THE COST AND EXPENSES OF:
(1) ALL INTERESTS IN PROPERTY ACQUIRED IN
CONNECTION WITH IT;
(2) FINANCIAL, ARCHITECTURAL, CONSULTING,
ENGINEERING, AND LEGAL SERVICES;
(J) PLANS, SPECIFICATIONS, SURVEYS,
ESTIMATES, FEASIBILITY REPORTS, AND DIRECT AND INDIRECT
LABOR, MATERIALS MATERIAL, EQUIPMENT, AND ADMINISTRATIVE
EXPENSES; AND
(4) FINANCING THE PROJECT, INCLUDING
FINANCING CHARGES AND INTEREST BEFORE, DURING, AND FOR 1
YEAR AFTER COMPLETION OF CONSTRUCTION.
REVISOR'S NOTE: This subsection presently appears as
Art. 94A, §1(e).
Present references to "transportation
facilities" are deleted as unnecessary for
purposes of this title; in this regard, see,
also, revisor's note to this section, and
§3-101(d) of this article.
The only other changes are in style.
The term "transportation facilities project"
is defined in subsection (i) of this section.
(D) OUTSTANDING AND UNPAID.
"OUTSTANDING AND UNPAID" DOES NOT INCLUDE:
(1) BONDS PURCHASED AND HELD IN SINKING FUNDS
BY OR FOR THE AUTHORITY; OR
(2) IF THE MONEY FOR THEIR PAYMENT OR
REDEMPTION HAS BEEN PROVIDED:
(I) MATURED BONDS NOT PRESENTED FOR PAYMENT;
OR
(II) BONDS CALLED FOR REDEMPTION BUT NOT
PRESENTED FOR REDEMPTION.
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