Ch. 43

1995 LAWS OF MARYLAND

CHAPTER 43
(House Bill 147)

AN ACT concerning

Calvert County - Public Facilities Bonds

FOR the purpose of authorizing and empowering the County Commissioners of Calvert
County, from time to time, to borrow not more than $7,000,000 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)     New Projects:

(1)     Southern Elementary School (Board of Education);

(2)     King's Landing Improvements (Division of Parks and Recreation); and

(3)     Radio Communications System;

(b)     Continuing Project - Barstow Landfill Capping (Department of Public
Works); and

(c)     Bond Issuance Costs.

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