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ROBERT L. EHRLICH, JR., Governor
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Ch. 75
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determining the same, terms, conditions, maturities, and all other details
incident to the issuance and sale of the bonds; empowering the County to issue
refunding bonds for the purchase or redemption of bonds in advance of maturity;
providing that such borrowing may be undertaken by the County in the form of
installment purchase obligations executed and delivered by the County for the
purpose of acquiring agricultural land and woodland preservation easements;
empowering and directing the County to levy, impose, and collect, annually, ad
valorem taxes in rate and amount sufficient to provide funds for the payment of
the maturing principal of and interest on the bonds; exempting the bonds and
refunding bonds and the interest thereon and any income derived therefrom
from all State, County, municipal, and other taxation in the State of Maryland;
providing that nothing in this Act shall prevent the County from authorizing the
issuance and sale of bonds the interest on which is not excludable from gross
income for federal income tax purposes; and relating generally to the issuance
and sale of such bonds.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used herein, the term "County" means the body politic and
corporate of the State of Maryland known as the County Commissioners of Carroll
County, and the term "construction, improvement, or development of public facilities"
means the acquisition, alteration, construction, reconstruction, enlargement,
equipping, expansion, extension, improvement, rehabilitation, renovation, upgrading,
and repair of public buildings and facilities and public works projects, including, but
not limited to, public works projects such as roads, bridges and storm drains, public
school buildings and facilities, landfills, Carroll Community College buildings and
facilities, public operational buildings and facilities such as buildings and facilities for
County administrative use, public safety, health and social services, libraries, refuse
disposal buildings and facilities, water and sewer infrastructure facilities, easements
or similar or related rights in land that restrict the use of agricultural land or
woodland to maintain the character of the land as agricultural land or woodland, and
parks and recreation buildings and facilities, together with the costs of acquiring land
or interests in land as well as any related architectural, financial, legal, planning, or
engineering services.
SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the construction, improvements or
development of public facilities described in Section 1 of this Act, to make loans to
each and every volunteer fire department in the County upon such terms and
conditions as may be determined by the County for the purpose of financing certain
fire or emergency-related equipment, buildings, or other facilities of volunteer fire
departments, to finance the payment of contributions to the Carroll County Pension
Plan, to finance the payment of contributions to other postemployment benefits
provided by the County, to finance the payment of contributions to the length of
service award program for members of volunteer fire departments in the County, and
to borrow money and incur indebtedness for those purposes, at one time or from time
to time, in an amount not exceeding, in the aggregate, $52,000,000 and to evidence
such borrowing by the issuance and sale upon its full faith and credit of general
obligation bonds in like par amount, which may be issued at one time or from time to
time, in one or more groups or series, as the County may determine.
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