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180 LAWS OF MARYLAND
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Ch. 13
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THE POLITICAL SUBDIVISION. FOR THE PAYMENT OF THE
PRINCIPAL OF AND INTEREST ON THE BONDS AS THEY BECOME DUE
AND PAYABLE, THE POLITICAL SUBDIVISION ANNUALLY SHALL
LEVY A GENERAL TAX ON ALL OF THE ASSESSABLE PROPERTY
SUBJECT TO TAXATION IN ITS JURISDICTION.
(2) A POLITICAL SUBDIVISION MAY NCI ISSUE ANY
BONDS UNDER THIS SECTION IN AN AMOUNT THAT, TOGETHER WITH
THE AGGREGATE AMOUNT OF ALL OTHER BONDED INDEBTEDNESS OF
THE POLITICAL SUBDIVISION, EXCEEDS 10 PERCENT OF THE
TOTAL ASSESSED VALUATION OF THE PROPERTY LOCATED IN THE
POLITICAL SUBDIVISION.
(C) CONFLICTING ACTS.
THIS SECTION SUPERSEDES ANY OTHER GENERAL OR LOCAL
LAW, INCLUDING ARTICLE 31 OF THE CODE, TO THE EXTENT OF
ANY CONFLICT. NO PART OF THIS SECTION MAY BE DEEMED TO
BE IMPLIEDLY REPEALED OR SUPERSEDED BY ANY SUBSEQUENT
LEGISLATION IF SUCH CONSTRUCTION REASONABLY CAN BE
AVOIDED.
REVISOR'S NOTE: This section presently appears as
Art. 1A, §7-701(g).
In subsection (a)(1) of this section, the
present references to "a rate of interest" and
"serial maturity" are pluralized for clarity.
In subsection (a)(2) of this section,
reference to "air navigation facilities" is
added. Omission of this reference in the
present law appears to have been but an
inadvertent oversight.
In subsection (b) (2) of this section, the
present, inconsistent reference to property
located in "the municipality" is corrected to
refer to property in the "political
subdivision". Also, the present reference to
"actual" bonded indebtedness is deleted as
unnecessary.
Subsection (c) of this section is revised to
conform to the similar language appearing in
CL §1-104, as it applies to the Uniform
Commercial Code.
The only other changes are in style.
5-420. AIRPORTS USABLE BY AIR CARRIERS.
(A) IN GENERAL.
THE POWERS GRANTED TO POLITICAL SUBDIVISIONS BY THIS
SUBTITLE INCLUDE THE POWER TO ACQUIRE ANY PROPERTY,
INCLUDING AIR RIGHTS OR INTERESTS, FOR AN AIRPORT,
AIRPORT FACILITY, OR AIR NAVIGATION FACILITY TO BE
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