Ch. 5

LAWS OF MARYLAND

(b)  The rate of such tax shall hot exceed:

(5) One percent of the value of the consideration for
any other transfer including any nonresidential leasehold
interest and fee interest under subsection [(a)(iv) above] (A)(4)
OF THIS SECTION based on the:

(i) average annual rent over the term of the
lease, including renewals, capitalized at 10 percent plus any
additional consideration payable other than rent; or

(ii) if the average annual rent can not be
determined, the greater of:

1.  105 percent of the minimum average
annual rent, as determined by the lease, capitalized at 10
percent, plus any additional consideration payable, other than
rent; or

2.  150 percent of the assessment of the
real property subject to lease.

DRAFTER'S NOTE:

Error: Erroneous internal reference in § 52-20(b)(5)
of the Public Local Laws of Montgomery County, Article
16 of the Public Local Laws of Maryland.

Occurred: Ch. 694, Acts of 1988.

Article 20 - Somerset County

2-309.

(c)   In order to carry out the purposes of this section, the
Commissioners may lend the credit of the County to a
municipality, sanitary district or sub-district, by endorsing or
otherwise securing or guaranteeing the payment of the obligation.
The loan of credit, however, may not [to] exceed the $275,000.

DRAFTER'S NOTE:

Error: Extraneous word words in § 2-309(c) of the
Public Local Laws of Somerset County, Article 20 of
the Public Local Laws of Maryland.

Occurred: Ch. 700, Acts of 1988.

2-404.

(a) The County Commissioners may provide for the retirement
of and payment of benefits for any county employees who are not
members of any pension system either by means of inclusion of

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