Ch. 523

1995 LAWS OF MARYLAND

(3)     IF THE NOTES SO STATE, THE ISSUANCE OF THE NOTES SHALL
CONSTITUTE A PLEDGE OF THE FULL FAITH AND CREDIT OF THE COUNTY TO THE
PROMPT PAYMENT, FROM AD VALOREM TAXATION AND OTHER REVENUES, WHICH
MAY BE DESCRIBED IN THE AUTHORIZING RESOLUTION OR RESOLUTIONS, OF THE
PRINCIPAL OF AND INTEREST ON THE NOTES. THE COUNTY SHALL ANNUALLY LEVY
UPON ALL REAL AND TANGIBLE PERSONAL PROPERTY WITHIN ITS CORPORATE
LIMITS AD VALOREM TAXES SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE
MATURING PRINCIPAL OF AND INTEREST ON THE NOTES, WITHOUT LIMITATION AS
TO RATE OR AMOUNT, NOTWITHSTANDING THE LIMITATION OF ANY OTHER LAW;

(4)     THE TOTAL AGGREGATE PRINCIPAL AMOUNT OF BORROWINGS
PURSUANT TO THIS SECTION,' SHALL NOT EXCEED THE SUM $1,000,000 IN ANY ONE
FISCAL YEAR OF THE COUNTY; AND

(5)     THE BORROWINGS INCURRED BY THE COUNTY UNDER THIS
SECTION SHALL ALL BE REPAID WITHIN 4 MONTHS FROM THE EXPIRATION OF THE
FISCAL YEAR IN WHICH THE NOTES ARE ISSUED.

(D)    THE COUNTY, WITHOUT LIMITATION TO OR BY ITS OTHER BORROWING
POWERS, AND ACTING UNDER AND WITHIN THE APPLICABLE PROVISIONS OF THIS
SECTION, MAY BORROW MONEY FOR ANY LAWFUL, PUBLIC PURPOSE, ON THE
SECURITY. OF PAYMENT, INCLUDING TAXES, REVENUES, GRANTS OR OTHER STATED
SOURCES OF FUNDS AS THE COUNTY BY RESOLUTION DETERMINES.

(E)     THE BORROWING POWERS GRANTED TO THE COUNTY IN THIS SECTION
ARE SUPPLEMENTAL AND IN ADDITION TO ANY OTHER BORROWING POWERS
WHICH HAVE BEEN OR MAY BE GRANTED TO THE COUNTY.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.

Approved May 25, 1995.

CHAPTER 523
(Senate Bill 469)

AN ACT concerning

Dorchester County - Alcoholic Beverages
(Dispensary System)

FOR the purpose of terminating, in Dorchester County, the alcoholic beverages
dispensary system and the Liquor Control Board; authorizing the appointment of a
substitute member to the Board of License Commissioners; providing for the
appointment, powers, authority, and duties of the substitute member; repealing
certain powers, duties and obligations of the Liquor Control Board and the
dispensary system; prohibiting the Board of License Commissioners or their
employees from having certain financial interest; providing for a certain termination
date and procedure, subject to a certain contingency; authorizing the Liquor

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