WILLIAM DONALD SCHAEFER, Governor

Ch. 52

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 "construction, improvement, or development of public facilities"
means the acquisition, alteration, construction, reconstruction, enlargement, equipping,
expansion, extension, improvement, rehabilitation, renovation, upgrading, and repair of
public buildings and facilities and public works projects, including, but not limited to, the
following, together with related architectural, financial, legal, planning or engineering
services:

(a)     Public school buildings, administrative facilities, sites, and grounds;

(b)     Community College buildings, sites and grounds;

(c)     Highways and bridges;

(d)     Stormwater drainage facilities;

(e)     Detention facilities, sites, and grounds;

(f)      Airport facilities and grounds;

(g)     Buildings and facilities for public safety, health and social services, libraries,
County administration purposes, refuse collection, recycling or disposal by whatever
means and park and recreation purposes; and

(h) Acquisition of land or interests in land and any improvement thereon for
public use, including, but not limited to, the acquisition, improvement, or development of
land and any improvements thereon for lease, sale, or other use in connection with the
development of an industrial park or for other economic development purposes.

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, $20,000,000 and to
evidence such borrowing by the issuance and sale upon its full faith and credit of general
obligation bonds in like par amount, which may be issued at one time or from time to
time, in one or more groups or series, as the County may determine.

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall be issued
in accordance with a resolution of the County, which shall describe generally the
construction, improvement, or development of public facilities for which the proceeds of
the bond sale are intended and the amount needed for those purposes. The County shall
have and is hereby granted full and complete authority and discretion in the resolution to

- 1003 -