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Session Laws, 1984
Volume 759, Page 715   View pdf image
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HARRY HUGHES, Governor                                           715

improvement, rehabilitation, and furnishing and equipping of an
addition to the Arts and Science Building at the Cecil Community
College.

SECTION' 2. AND BE IT FURTHER ENACTED, That the County is
hereby authorized and empowered to finance the planning,
construction, and equipping of an addition to the Arts and
Science Building 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,
One Million Dollars ($1,000,000) One Million One Hundred Thousand
Dollars ($1,100,000), 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.

SECTION 4. AND BE IT FURTHER ENACTED, That the bonds shall
be issued pursuant to a resolution of the County which shall
describe generally the planning, construction, and equipping of
an addition to the Arts and Science Building for which the
proceeds of the bond sale are intended and the amount needed for
those purposes. The County shall have and is hereby granted full
and complete authority and discretion in the resolution to fix
and determine with respect to the bonds of any issue: the
designation, date of issue, denomination or denominations, form
or forms and tenor of the bonds; the rate or rates of interest
payable thereon, or the method of determining the same; the date
or dates and amount or amounts of maturity, which need not be in
equal par amounts or in consecutive annual installments, provided
only that no bond of any issue shall mature later than
twenty-five (25) years from the date of its issue; the manner of
selling the bonds, which may be at either public or private sale,
for such price or prices as may be determined to be for the best
interests of the County; the manner of executing and sealing the
bonds, which may be by facsimile; the place or places of payment
of the principal of and the interest on the bonds, which may be
at any bank or trust company within or without the State of
Maryland; and generally all matters incident to the terms,
conditions, issuance, sale and delivery thereof.

The bonds may be made redeemable before maturity, at the
option of the County, at such price or prices and under such
terms and conditions as may be fixed by the County prior to the
issuance of the bonds, either in the resolution or in subsequent
resolutions. The bonds may be issued in coupon or in registered
form or both, and provision may be made for the registration of

 

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Session Laws, 1984
Volume 759, Page 715   View pdf image
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