WILLIAM DONALD SCHAEFER, Governor

Ch. 104

CHAPTER 104

(House Bill 1457)

AN ACT concerning

Cecil County - Public School Facilities Bonds

FOR the purpose of authorizing and empowering the County
Commissioners of Cecil County, from time to time, to borrow
not more than $1,200,000 in order to finance the cost of
certain public school facilities in 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; empowering the County to issue
refunding bonds for the purchase or 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 "public school
facilities" means the costs of construction, reconstruction,
enlargement, expansion, extension, improvement, rehabilitation,
renovation and repair of public school buildings and facilities
in Cecil County, including development of property, acquisition
and installation of equipment and furnishings, together with any
related architectural, financial, legal, planning or engineering
services.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is
hereby authorized to finance any part or all of the costs of the
facilities described 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,
$1,200,000 and to evidence its borrowing by the issuance and sale

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