714

LAWS OF MARYLAND

Ch. 239

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 8, 1984.

CHAPTER 240

(House Bill 932)

AN ACT concerning

Cecil County - Bonds for Community College

FOR the purpose of authorizing and empowering the County
Commissioners of Cecil County, from time to time, to borrow
not more than One Million Dollars ($1,000,000) One Million
One Hundred Thousand Dollars ($1,100,000), in order to
finance the planning, construction, and equipping of an
addition to the Arts and Science Building at the Cecil
Community College, 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;
providing that the payment of funds under the provisions of
this Act is subject to a requirement that the Cecil
Community College provide a certain matching fund as the
County Commissioners of Cecil County may require; 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 an addition to the Arts and
Science Building" includes the planning, construction, addition,