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1480 LAWS OF MARYLAND Ch. 367
(1969 Replacement Volume and 1977 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:
Article 95 - Treasurer
22B.
NOTWITHSTANDING ANY PROVISIONS OF LAW TO THE CONTRARY
OR ANY LIMITATION OR RESTRICTION CONTAINED IN ANY OTHER LAW,
THE DIRECTOR OF FINANCE OF MONTGOMERY COUNTY MAY INVEST,
REDEEM, SELL, EXCHANGE, AND REINVEST UNEXPENDED OR SURPLUS
MONEYS, IN ANY FOND OR ACCOUNT OF WHICH HE HAS CUSTODY OR
CONTROL, IN BANKERS' ACCEPTANCES.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.
Approved May 2, 1978.
CHAPTER 368
(House Bill 1106)
AN ACT concerning
Dorchester County — Public Facilities Bonds
FOR the purpose of authorizing and empowering the County
Commissioners of Dorchester County, from time to time,
to borrow not more than Five Hundred Thousand Dollars
($500,000) in order to finance bridge construction,
rehabilitation, repair, including the costs of
acquisition and development of property rights, and any
related planning, architectural, and engineering
services, and to effect such borrowing by the issuance
and sale at public or private sale of its general
obligation bonds in like par amount; empowering the
County to fix and determine, by resolution, the form,
tenor, interest rates or rates or method of determining
the same, terms, conditions, maturities and all other
details incident to the issuance and sale of the bonds;
empowering the County to issue refunding bonds for the
purchase or redemption of bonds in advance of maturity;
empowering and directing the County to levy, impose and
collect, annually, ad valorem taxes in rate and amount
sufficient to provide funds for the payment of the
maturing principal of and interest on the bonds;
exempting the bonds and refunding bonds, and the
interest thereon and any income derived therefrom, from
all State, county, municipal and other taxation in the
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