HARRY HUGHES, Governor

1713

Prince George's County — Advance Land
Acquisition Bond Funding
MC/PG 52-79

FOR the purpose of requiring certain county approval and
certain county taxation for the issue and sale of bonds
in furtherance of the Maryland—National Capital Park
and Planning Commission advance land acquisition
program for Prince George's County.

BY repealing and reenacting, with amendments,

Article 66D - Maryland-National Capital Park and

Planning Commission
Section 7-106(e)
Annotated Code of Maryland
(1978 Replacement Volume)

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be repealed, amended, or enacted to read as follows: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 66D — Maryland—National Capital
Park and Planning Commission

7-106.

(e) For the purposes of this section, in Prince
George's County and Montgomery County the Commission may
establish in its annual budget a continuing land acquisition
revolving fund from which disbursements for the purposes of
this section shall be made, and the Commission may issue and
sell serial bonds from time to time in amounts it deems
necessary for this purpose. HOWEVER, IN PRINCE GEORGE'S
COUNTY THE COUNTY COUNCIL SHALL APPROVE THE COMMISSION'S
ISSUE AND SALE OF BONDS CONCERNING THAT COUNTY. The total
amount of the bonds outstanding at any time may not exceed
an amount which can be redeemed within 30 years from the
date of issue by means of a tax of three cents on each $100
assessed valuation in Prince George's County and Montgomery
County; in making such calculation, assumptions may be made
as set forth in § 6—102 (b) of this article- The provisions
relating to form, interest rate, sale, redemption,
guarantee, and liability contained in § 6—102 (serial bonds
generally) shall be equally applicable to bonds issued
pursuant to the provisions of this section.

(1) The [Board of County Commissioners for
Prince George's County and] Montgomery County Council may
levy against all of the property assessed for the purposes
of county taxation, annually a tax of not less than one cent
or more than three cents on each $100 of assessed valuation.
The tax shall be levied notwithstanding the fact that no
interest may be due on the bonds or notes and/or
notwithstanding the fact that no bonds or notes whatever
have been issued under this title. If a tax greater than