Ch. 725                                          LAWS OF MARYLAND

CHAPTER 725

(House Bill 1150)

AN ACT concerning

Carroll County - Primary and Secondary Public School Bonds

FOR the purpose of authorizing and empowering the County
Commissioners of Carroll County, from time to time, to
borrow not more than $12,000,000 in order to finance the
cost of certain public facilities in Carroll 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 Carroll County, and the term "public
facilities" means the costs of planning, design, construction,
and reconstruction together with any related architectural,
financial, legal or engineering services of primary and secondary
public schools and education related maintenance structures in
Carroll County.

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,
$12,000,000 and to evidence its borrowing by the issuance and

- 4784 -