|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 13
|
|
|
|
|
96
|
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) BORROW MONEY AND EVIDENCE THE BORROWING
BY THE ISSUANCE AND SALE OF ITS BONDS IN SUBSTANTIALLY
THE FORM AND MANNER AND SUBJECT TO THE SAME GENERAL
PROVISIONS AND TAX EXEMPTION APPLICABLE TO CONSOLIDATED
TRANSPORTATION BONDS UNDER §§3-203 THROUGH 3-207, 3-212,
AND 3-213 OF THIS TITLE;
(2) DISBURSE THE PROCEEDS OF THE BORROWING TO
PARTICIPATING COUNTIES; AND
(3) PAY THE PRINCIPAL OF AND INTEREST ON THE
BONDS.
(B) DESIGNATION OF BONDS.
THE BONDS SHALL BE KNOWN AS "DEPARTMENT OF
TRANSPORTATION—COUNTY TRANSPORTATION BONDS FIRST
ISSUE".
REVISOR'S NOTE: This section presently appears as
all but the first sentence of Art. 89B,
§211G-1(a).
In subsection (a) of this section, the phrase
"from time to time" is new language derived
without substantive change from the
introductory language of §211G-1(b).
Also in subsection (a), the word "may" is
substituted for "authorized"; in this regard,
see revisor's note to §3-201 of this title.
The several statutory provisions presently
relating to the form, tenor, and manner of
issuance of these bonds date back to 1953.
These provisions have been changed in this
section to conform to the more current
Consolidated Transportation Bond provisions
contained in Subtitle 2 of this title, which
provisions were first enacted in 1975. Both
Consolidated Transportation Bonds and County
Transportation Bonds are Departmental
instruments, and the latter no longer should
derive their style and effect from the old
State Highway Construction Bonds, which are
archaic instruments formerly issued by the
State Roads Commission before 1970. The
provisions or present Art. 89B that relate to
the various issues of State Highway
Construction Bonds have been decodified in Ch.
608, Acts of 1976; see General Revisor's Note
to this title.
The definition of "county" as including
Baltimore City, which presently appears in the
second sentence of present §21lG-1(a), is
deleted as unnecessary in light of §1—101 of
this article.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
