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Ch. 358
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1164
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LAWS OF MARYLAND
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UNDER THIS SECTION, AND 3 1/2 PERCENT ON THE NET EARNINGS TAXABLE
UNDER § 128A OF THIS ARTICLE.
(2) FOR THE 1984 1985 A TAXABLE YEAR ENDING ON OR
AFTER JANUARY 1, 1985 THE TAX IS 3/16 PERCENT ON THE NET EARNINGS
UNDER THIS SECTION, AND 5 1/4 PERCENT ON THE NET EARNINGS TAXABLE
UNDER § 128A OF THIS ARTICLE.
(3) FOR A TAXABLE YEAR ENDING ON OR AFTER JANUARY 1,
1986, THE TAX IS 7 PERCENT ON THE NET EARNINGS TAXABLE UNDER §
128A OF THIS ARTICLE.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 24, 1983.
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CHAPTER 359
(Senate Bill 791)
AN ACT concerning
Creation of a State Debt -
Carroll County Jail
FOR the purpose of authorizing the creation of a State Debt in
the amount of $400,000, the proceeds to be used as a grant
to the Commissioners of Carroll County for the purpose of
the design, construction, alterations, and equipping of an
addition to the Carroll County Jail; subject to the
requirement that the Commissioners of Carroll County provide
at least an equal and matching fund of a certain type for
the same purpose by a certain date; and providing generally
for the issue and sale of bonds evidencing the loan.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:
(1) The Board of Public Works may borrow money and incur
indebtedness on behalf of the State of Maryland through a State
loan to be known as the Carroll County Jail Loan of 1983 in the
aggregate principal amount of $400,000. This loan shall be
evidenced by the issuance and sale of State general obligation
bonds authorized by a resolution of the Board of Public Works and
issued, sold and delivered in accordance with the provisions of
§§ 19 to 23 of Article 31 of the Annotated Code of Maryland (1976
Replacement Volume and 1982 Supplement, as amended from time to
time).
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