HARRY HUGHES, Governor

1043

Airport - Borrowing Power

FOR the purpose of authorizing and empowering the County
Commissioners to acquire all leasehold improvements and
all assets of the operation operator of the
Dorchester-Cambridge Municipal Airport, to make certain
improvements to the airport, to finance all or any
portion of the cost by borrowing money from certain
sources under certain terms and conditions, and to
evidence the borrowing by certain obligations; and
providing that this borrowing power shall be deemed
supplemental and shall supersede any contrary
provisions of law.

BY adding to

The Public Local Laws of Dorchester County
Section 6-45

Article 10 - Public Local Laws of Maryland
(1974 Edition, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Code of Public Local Laws
of Maryland be repealed, amended, or enacted to read as
follows:

Article 10 - Dorchester County

6-45.

THE COUNTY COMMISSIONERS OF DORCHESTER COUNTY ARE
HEREBY AUTHORIZED AND EMPOWERED TO ACQUIRE BY PURCHASE OR
OTHERWISE ALL LEASEHOLD IMPROVEMENTS AND ALL ASSETS OF THE
OPERATOR OF THE DORCHESTER-CAMBRIDGE MUNICIPAL AIRPORT
LOCATED ON THE NORTHEAST SIDE OF BUCKTOWN ROAD IN THE
LINKWOOD ELECTION DISTRICT, AND TO MAKE SUCH IMPROVEMENTS,
RENOVATIONS, AND REPAIRS THERETO AS THEY MAY DEEM
APPROPRIATE, AND TO FINANCE ALL OR ANY PORTION OF THE COST
BY BORROWING MONEY FROM THE UNITED STATES OF AMERICA OR ANY
AGENCY OR INSTRUMENTALITY THEREOF UPON WHATEVER TERMS AND
CONDITIONS, AND TO EVIDENCE THE BORROWING BY WHATEVER
CONDITIONS AND EVIDENCED BY WHATEVER OBLIGATIONS THE COUNTY
COMMISSIONERS MAY BY RESOLUTION DETERMINE TO BE IN THE BEST
INTEREST OF THE COUNTY, PROVIDED THAT THE TERM OF SUCH
BORROWING MAY NOT EXCEED 10 YEARS AND THE ANNUAL INTEREST
RATE MAY NOT EXCEED 6 PERCENT. THIS BORROWING POWER SHALL
BE DEEMED SUPPLEMENTAL AND SHALL SUPERSEDE ANY CONTRARY
PROVISIONS OF LAW.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1980.

Approved April 22, 1980.