4060

COUNTY LOCAL LAWS

Improvement Fund, an interest-free loan up to seventy-five
thousand dollars ($75,000.00) amortized over a twenty-five
year period on account of this project.

Approved March 7, 1980.

Bill No. 3-80

AN ORDINANCE to add new Section 9-502 to the Anne Arundel
County Code (1967 Edition and Supplements), Title 9,
"Finance" to follow immediately after Section 9-501,
which new Section 9-502 authorizes and empowers Anne
Arundel County, Maryland, to issue and sell one or more
series of its tax anticipation notes upon the full faith
and credit of Anne Arundel County, Maryland, the
proceeds thereof to be disbursed for the public purpose
of meeting expenses budgeted for the current fiscal
year, all as described herein; provides that the amount
of such notes outstanding at any time shall not exceed
the lesser of (i) five per cent (5%) of the gross
revenues for all funds set forth in the current expense
budget of the County for the then current fiscal year or
(ii) the amount of ad valorem and other taxes levied for
the current fiscal year or certified by the county
controller to be properly treated as revenues in the
current fiscal year to the extent such taxes are
reasonably anticipated by the county controller to be
available for payment of the principal of the notes at
maturity, after provision for interest on the notes,
other county debt service and any other county
obligations to which such ad valorem and other taxes are
pledged; prescribes the form and tenor of said notes,
the terms and conditions for the issuance and private
sale thereof and all other details incident thereto;
provides for the disbursement of the proceeds of said
notes; provides for the collection and setting apart of
taxes which may have been levied in order to provide for
the payment of the principal of and interest on such
notes; provides for the levy and collection of all ad
valorem taxes necessary to provide for the payment of
the principal of and interest on such notes at maturity;
and provides generally for the issuance, sale and
delivery of such notes.

Approved February 5, 1980.

Bill No. 6-80

AN ORDINANCE to repeal and reenact, with amendments,
Section 3-200 of the Anne Arundel County Code (1967 Edition
and Supplements), Title 3, "Buildings", Subtitle 2,
"Structural Requirements", and to repeal in its entirety