2520                                             LAWS OF MARYLAND                                         Ch. 453

Cecil County - Bonds for Main Library

FOR the purpose of authorizing and empowering the County
Commissioners of Cecil County, from time to time, to borrow
not more than Two Million Dollars ($2,000,000), in order to
finance the planning, construction, and equipping of a main
library for Cecil County as herein defined, and to effect
such borrowing by the issuance and sale at public or private
sale of its general obligation bonds in like par amount;
empowering the County to fix and determine, by resolution,
the form, tenor, interest rate or rates or method of
determining the same, terms, conditions, maturities and all
other details incident to the issuance and sale of the
bonds; providing that the authority of the County
Commissioners to issue bonds under this Act is revoked after
a certain date; empowering the County to issue refunding
bonds for the purchase of redemption of bonds in advance of
maturity; 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; 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 Cecil County, and the term "planning,
construction, and equipping of the Cecil County Library includes
the planning, construction, addition, improvement,
rehabilitation, and furnishing and equipping of the main library
of Cecil County.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is
hereby authorized and empowered to finance the planning,
construction, and equipping of the Cecil County Library; as
defined in Section 1 of this Act, and to borrow money and incur
indebtedness for that purpose, at one time or from time to time,
in an amount not exceeding, in the aggregate, Two Million Dollars
($2,000,000), 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.

SECTION 3. AND BE IT FURTHER ENACTED, That the power of the
County to authorize the bond issue described in this Act is
revoked and void if the bond issue is not authorized by the
County on or before December 31, 1985.