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Ch. 6?
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1370
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LAWS OF MARYLAND
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sewerage systems, solid waste disposal systems and solid
waste acceptance facilities, all as defined in Section
645 of Article 43 of the Annotated Code of Maryland (1971
Replacement Volume), in Charles County [,] the County
Commissioners [are authorized and empowered to] MAY issue
bonds [,] from time to time [,] upon the full faith and
credit of the County, in [such] amounts [as] they [may]
deem to be necessary to make improvements consistent with
[such] THAT purpose and to provide the funds necessary, to
meet [the] THEIR cost [thereof]. The cost, which shall
include, without limitation, those elements of "cost" as
that term is defined in Section 645 of Article 43 of the
Annotated Code of Maryland (1971 replacement Volume),
shall be estimated at the time of the adoption of a
resolution by the County Commissioners authorizing [such]
THE bonds, but at no time shall the total issue of bonds
outstanding and unpaid which relates to improvements in
any special taxing district for all purposes under this
section exceed [25] 10 percent of the total value of the
property assessed for County taxation purposes within the
special taxing district. The authorizing resolution
shall provide that the bonds of each issue shall be
dated, shall bear interest at such rate or rates as may
be determined by the County Commissioners, shall mature
at such time or times not exceeding 40 years from their
date or dates of issue, as may be determined by the
County Commissioners, and may be made redeemable before
maturity, at the option of the County Commissioners, at
such price or prices and under such terms and conditions
as may be fixed by the County Commissioners prior to the
issuance of the bonds. The County Commissioners [shall
also] by such authorizing resolution ALSO SHALL determine
the form of the bonds, including any interest coupons to
be attached thereto, any provisions for registration of
the bonds or coupons, the manner of execution of the
bonds, the denomination or denominations of the bonds,
the place or places of payment of principal and interest,
which may be at any bank or trust company, and may
provide for such other details as are incident to the
sale, issuance and delivery of [such] THE bonds. Each of
[such] THE bonds shall be issued under the seal of the
County and shall be signed by the Chief Executive Officer
and by the Clerk or Secretary of the County. All bonds
issued under the provisions of this section shall have
and are [hereby] declared to have, as between successive
holders, all the qualities and incidents of negotiable
instruments under the laws of the State of Maryland. The
issuance of [such] THE bonds [shall] ARE not [be] subject
to any limitations or conditions contained in any other
law, including Sections 9 to 11, inclusive, of Article 31
of the Annotated Code of Maryland (1971 Emplacement
Volume), as amended from time to time. [, and the] THE
County Commissioners may sell such bonds in such manner,
either at public or at private sale, and for such price,
at not less than par, as they may determine to be in the
best interest of the County. Bonds issued pursuant to
the authority of this Section [shall be] at all times ARE
exempt from State, County and municipal taxation of every
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