3118

LAWS OF MARYLAND

Ch. 676

(3)  "FUND" MEANS THE ST. MARY'S COUNTY CAPITAL
REVOLVING FINANCIAL FUND FOR FIRE FIGHTING EQUIPMENT AND
FACILITIES.

(4)  "LAND ACQUISITION" MEANS:

(I) THE ACQUISITION OF REAL AND PERSONAL
PROPERTY FOR THE CONSTRUCTION OF BUILDINGS TO HOUSE FIRE
FIGHTING, RESCUE AND EMERGENCY MEDICAL SERVICE EQUIPMENT AND
SERVICES.

(5)  "CONSTRUCTION" MEANS CONSTRUCTION,
RECONSTRUCTION, IMPROVEMENT, ENLARGEMENT, EXPANSION, ALTERATION,
REHABILITATION, AND REPAIR OF BUILDINGS AND FACILITIES NECESSARY
FOR THE OPERATION OF VOLUNTEER FIRE, AMBULANCE, AND RESCUE
COMPANIES DEPARTMENTS.

(6)  "CONSTRUCTION COSTS" INCLUDES ARCHITECTS' AND
ENGINEERS' FEES, COSTS OF BUILDING MEANS OF ACCESS, AND COSTS OF
EXTENDING UTILITY SYSTEMS.

(B)(1) THERE IS A SPECIAL PERMANENT CAPITAL REVOLVING
FINANCIAL FUND FOR FIRE FIGHTING EQUIPMENT AND FACILITIES IN ST.
MARY'S COUNTY.

(2) THE COUNTY SHALL FINANCE THE FUND BY PERIODICALLY
BORROWING NOT MORE THAN $2,000,000, FROM THE PROCEEDS OF THE SALE
OF GENERAL OBLIGATION BONDS FOR PUBLIC FACILITIES ISSUED AND SOLD
IN ACCORDANCE WITH THE PROVISIONS OF CHAPTER 705 OF THE LAWS OF
MARYLAND OF 1981.

(3) THE COUNTY SHALL OPERATE THE FUND IN SUCH A
MANNER THAT IT WILL NOT RESULT IN ANY COSTS TO THE COUNTY.

(B) THERE IS A CONTINUING, NONLAPSING, REVOLVING FUND FOR
FIRE FIGHTING EQUIPMENT AND FACILITIES IN ST. MARY'S COUNTY THAT
CONSISTS OF:

(1) MONEY APPROPRIATED BY THE COUNTY TO THE FUND;

(2) ANY REPAYMENT OF PRINCIPAL OF OR INTEREST ON A
LOAN MADE FROM THE FUND;

(3) PROCEEDS FROM THE SALE, LEASE, RENTAL OR OTHER
DISPOSAL OF PROPERTY OR OTHER COLLATERAL HELD OR ACQUIRED BY THE
COUNTY TO SECURE THE REPAYMENT OF A LOAN MADE FROM THE FUND;

(4) MONEYS FROM ANY SOURCE TO EFFECT THE PURPOSES OF
THIS SECTION, INCLUDING, WITHOUT LIMITATION, ANY FEDERAL, STATE,
OR PRIVATE GRANT; AND

(5) INVESTMENT EARNINGS ON THE FUND.