2252

LAWS OF MARYLAND

Ch. 646

Approved May 20, 1980.

CHAPTER 647

(House Bill 1515)

AN ACT concerning

Cecil County - Bonds and Borrowing for County
Sheriff's Office and Jail

FOR the purpose of authorizing and empowering the County
Commissioners of Cecil County to borrow from certain
sources an amount not exceeding $2,500,000 in order to
finance the construction, reconstruction, extension,
acquisition, improvement, enlargement, alteration,
repair, and modernization of certain public facilities
as herein defined, and to effect such borrowing by the
issuance and sale to the highest bidder or bidders at
public sale or, at the discretion of the County,
private sale of its general obligation, serial maturity
bonds in like par amount, and/or by whatever
obligations the County Commissioners may by resolution
determine to be in the best interests of the County;
empowering the County to fix and determine, by
resolution, the form, tenor, interest rate, or method
of arriving at the same, terms, including redemption
and registration provisions, conditions, maturities and
all other details incident or necessary to the
issuance, sale, and delivery of the bonds, without
reference to the provisions of Sections 9, 10, and 11
of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume); prescribing the method and manner
of selling the bonds at public or private sale;
empowering the County to sell the bonds at or above the
par value thereof; empowering the County to apply to
the payment of principal and interest of the bonds any
funds received from the State of Maryland, the United
States of America, or any other source which may be
properly allocable to said purpose; empowering and
directing the County to contract to levy and to levy,
impose, and collect annually ad valorem taxes which, in
addition to State and federal allotments, if any, will
provide funds sufficient to the payment of the maturing
principal and interest; exempting the bonds and the
interest thereon from all State, county, and municipal
taxation in the State of Maryland; and providing that
the power to incur indebtedness and issue bonds and/or
other obligations therefor under the provisions of this
Act is additional and alternative authority for
borrowing money and shall be regarded as supplemental
and additional to powers conferred upon the County by
other laws.