H.B. 694                                                   VETOES

Senate Bill 517, which was passed by the General Assembly and signed by me on May 27,
1993, accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 694.

Sincerely,

William Donald Schaefer

Governor

House Bill No. 694

AN ACT concerning

Calvert County - Public Facilities Bonds - Public School Construction

FOR the purpose of authorizing and empowering the County Commissioners of Calvert
County, from time to time, to borrow not more than $9,600,000 in order to finance

  the costs of construction, improvement, or development of certain public facilities in

   Calvert 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 Calvert
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, including, but not limited to, the following, together with
related architectural, financial, legal, planning or engineering services:

(a)     a new secondary school to be called Patuxent High School, located at the
southern end of Calvert County; and

(b)     an elementary school, to be named Northeast Elementary School, located in
the northern part of Calvert County.

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