1686

LAWS OF MARYLAND

Ch. 289

8-13. Levy; restrictions.

(A)  When [they] THE COUNTY COMMISSIONERS make their levy,
[said levy shall] IT MAY not be made in gross[,] but shall
designate the particular [heads] USES for which it is to be
expended.[, and they] THE COUNTY COMMISSIONERS shall specify
[therein] what [per centum] PERCENT is TO BE levied for school
purposes, what [per centum] PERCENT for bonded indebtedness of
[said] THE County, what [per centum] PERCENT for court purposes,
what [per centum] PERCENT for road purposes, and what [per
centum] PERCENT for each particular [head,] DEPARTMENT OR PROGRAM
for which expenditure is to be made.[, specified by them; and
they shall not, in] IN any one year,

(B)  THE COUNTY COMMISSIONERS MAY NOT levy on the assessable
property of the County more than [five] 5 cents on the [one
hundred dollars thereof] $100 for general purposes, which latter
shall include all matters not embraced under any of the
particular or specified [heads or headings] DEPARTMENTS OR
PROGRAMS. [In no event shall the] THE money levied for one
purpose MAY NOT be expended for any other purpose. (See note
(6)) (P.L.L., 1888, Art. 22, sec. 101; 1930, sec. 149; 1957 Code,
sec. 179. 1878, ch. 3; 1914, ch. 94, sec. 101.)

8-14. Borrowing power for current deficits.

(A) Whenever the amount of revenue collected [in Washington
County] is insufficient to meet the current expenses required to
be paid, the County Commissioners may borrow on the faith and
credit of Washington County, [and issue for the indebtedness,
the] A note or notes of the County Commissioners MAY BE ISSUED
FOR THE INDEBTEDNESS, AND the note or notes [to] SHALL be signed
by the President of the [Board of] County Commissioners and
certified by the Clerk of the County Commissioners as to the date
of approval for the borrowing. THE APPROVAL SHALL BE MADE by a
motion approved by the [Board of] County Commissioners at a
regularly scheduled meeting, subject to the following
limitations:

[(a)] (1) Maturity. A tax anticipation note may not mature
later than [six] 6 months from its date of issue.

[(b)] (2) Maximum sum. A tax anticipation note may not be
issued for a sum in excess [of the following amount:] the
estimated current fiscal year's cumulative cash flow deficit plus
[one] 1 month's estimated expenditures.

[(c)] (3) Rate of interest. The rate of interest on tax
anticipation notes shall be determined by the County
Commissioners. The interest on tax anticipation notes may be
paid in installments and at maturity of the notes.

[(d)] (B) Additional requirements. In addition to other
provisions of this section, tax anticipation notes shall be
issued under the following conditions: