Ch. 417

LAWS OF MARYLAND

(15) A SANITARY DISTRICT, SANITARY COMMISSION,
METROPOLITAN COMMISSION, OR OTHER SEWER OR WATER AUTHORITY
ESTABLISHED OR OPERATING. UNDER PUBLIC LOCAL LAW OR PUBLIC GENERAL
LAW.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 19, 1989.

CHAPTER 417

(House Bill 384)

AN ACT concerning

St. Mary's County - Public Facilities Bonds

FOR the purpose of authorizing and empowering the County
Commissioners of St. Mary's County, from time to time, to
borrow not more than $10,000,000 in order to finance the
construction, improvement, or development of public
facilities in St. Mary's 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; providing that nothing in this Act shall prevent
the County from authorizing the issuance and sale of bonds
the interest on which is not excludable from gross income
for federal income tax purposes; 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 St. Mary's County, and the term

- 2836 -