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Session Laws, 1977
Volume 735, Page 3476   View pdf image
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3476
Ch. 917
LAWS OF MARYLAND
taxation, within Charles County, sufficient in rate and
amount to pay the interest payable in said year on all.
outstanding bonds and the principal of all bonds maturing in said year, the proceeds of said tax to be kept in a special fund and in no case to be used for any other purpose. In case such bonds shall be issued in any year after the making of the regular levy of that year, then the County Commissioners of Charles County are empowered, authorized and directed to pay any and all interest becoming due before the next levy, out of any other funds at their disposal, and to levy at the next succeeding
levy an amount sufficient to reimburse such other funds.
SECTION 6. AND BE IT FURTHER ENACTED, That this Act shall take effect June 1, 1977.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That as used herein, the term "County" shall
mean the body politic and corporate of the State of
Maryland known as the County Commissioners of Charles
County, and the term "public facilities" shall mean the
construction, reconstruction, extension, improvement,
enlargement, alteration, repair or modernization of a
Charles County jail, including the acquisition and development of sites therefor, the architectural and engineering services incident thereto and the acquisition and installation of all customary permanent appurtenances, furnishings and equipment thereto.
SECTION 2. AND BE IT FURTHER ENACTED, That the
County is hereby authorized and empowered to finance the construction of the public facilities as defined in Section 2 of this Act and, in order to make such financing possible, said County is hereby granted the
tower and authority to borrow money and incur
indebtedness for such purposes, from time to time, in an
amount not exceeding the sum of $1,300,000 and to
evidence such borrowing by the issuance and sale upon its
full faith and credit of its general obligation, serial
maturity coupon bonds in like par amount, upon the terms
and conditions hereinafter set forth. Such bonds may be
issued from time to time, in one or more groups or
series, as funds for such public facilities construction or acquisition become necessary, provided, however, that the total debt which may be incurred pursuant to the
authority of this Act shall not exceed $1,300,000.
SECTION 3. AND BE IT FURTHER ENACTED, That subject
to the foregoing limitations, the County shall, before
borrowing any money or issuing any bonds pursuant to the
authority of this Act, adopt a resolution describing the
public facilities for which said borrowing or
indebtedness is intended, the amount needed for said
purposes in the aggregate, and determining to borrow


 
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Session Laws, 1977
Volume 735, Page 3476   View pdf image
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