1746

LAWS OF MARYLAND

Ch. 226

CHAPTER 226

(House Bill 1585)

AN ACT concerning

Carroll County - Bond Issue for Volunteer Fire
Departments

FOR the purpose of authorizing and empowering the County
Commissioners of Carroll County, from time to time, to
borrow not exceeding one million dollars
($1,000,000.00) in order to loan the proceeds of such
borrowing to volunteer fire departments in Carroll
County, Maryland, upon terms and conditions determined
by said County, to finance the construction of
additions and improvements to buildings and facilities
of said volunteer fire departments, and to finance the
purchase of fire and emergency related equipment by
said volunteer fire departments, and to effect such
borrowing by the issuance and sale to the highest
bidder or bidders at public sale of its general
obligation, serial maturity bonds in like par amount;
empowering said 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, public sale, and delivery of said bonds,
without reference to the provisions of Sections 9, 10,
and 11 of Article 31 of the Code of Public General Laws
of Maryland (1976 Replacement Volume); prescribing the
method and manner of selling said bonds at public sale;
empowering said county, subject to certain limitations,
to sell said bonds at, above, or below the par value
thereof; empowering said county to refund any of said
bonds purchased or redeemed in advance of maturity;
empowering and directing said county to apply to the
payment of principal and interest of said bonds and
said refunding bonds any funds received from said
volunteer fire departments, the State of Maryland, and
the United States of America, which may be properly
allocable to said purposes; empowering and directing
said county to contract to levy and to levy, impose,
and collect annually ad valorem taxes which, in
addition to payments from said volunteer fire
departments, and State and Federal allotments, if any,
will provide funds sufficient for the payment of said
maturing principal and interest; exempting said bonds
and said refunding bonds and the interest thereon and
any income derived therefrom from all State, county,
and municipal taxation in the State of Maryland; and
making technical corrections.

BY repealing and reenacting, with amendments,