124

LAWS OF MARYLAND

Ch. 22

(2) IS EXEMPT FROM ALL STATE AND LOCAL TAXES.

(B) TAX EXEMPTION FOR MONEY IN TRUST.

MONEY INVESTED IN TRUST FOR THE BENEFIT OF THE PUBLIC
SCHOOLS FOR ANY COUNTY OR CITY IS EXEMPT FROM ALL STATE AND
LOCAL TAXES.

REVISOR'S NOTE: This section presently appears as Art.
77, §§ 45 and 46.

In subsection (b) of this section, the word
"county" is deleted as unnecessary as it is
included in the word "local".

The only other changes are in style.

As to the County Commissioners holding in trust
property that is given to a county for "purposes
of education", see also Art. 25, §§ 158 and 159.

4-114. ACQUISITION AND DISPOSITION OF REAL PROPERTY.

(A)   BALTIMORE CITY EXCEPTED.

THIS SECTION DOES NOT APPLY TO BALTIMORE CITY.

(B)   ACQUISITION OF REAL PROPERTY.

WITH THE APPROVAL OF THE STATE SUPERINTENDENT, EACH
COUNTY BOARD MAY:

(1)   BUY OR OTHERWISE ACQUIRE LAND, SCHOOL SITES,
OR BUILDINGS; AND

(2)   RENT, REPAIR, IMPROVE, AND BUILD SCHOOL
BUILDINGS OR     APPROVE CONTRACTS FOR DOING SO, IF THE PLANS
CONFORM TO THE   BYLAWS, RULES, AND REGULATIONS OF THE STATE
BOARD.

(C)   DISPOSITION OF REAL PROPERTY.

(1)     IF, WITH THE APPROVAL OF THE STATE
SUPERINTENDENT, A COUNTY BOARD FINDS THAT ANY LAND, SCHOOL
SITE, OR BUILDING NO LONGER IS NEEDED FOR SCHOOL PURPOSES,
IT SHALL BE TRANSFERRED BY THE COUNTY BOARD TO THE COUNTY
COMMISSIONERS OR COUNTY COUNCIL AND MAY BE USED, SOLD,
LEASED. OR OTHERWISE DISPOSED OF, EXCEPT BY GIFT, BY THE
COUNTY COMMISSIONERS OR COUNTY COUNCIL.

(2)      WITH THE APPROVAL OF THE STATE
SUPERINTENDENT, THE CECIL COUNTY BOARD MAY TRANSFER, WITH OR
WITHOUT CHARGE, ANY OF ITS PROPERTY TO THE BOARD OF TRUSTEES
OF A PUBLIC COMMUNITY COLLEGE.

REVISOR'S NOTE: This section presently appears as Art.
77, §47(a).