PARRIS N. GLENDENING, Governor                             Ch. 157

CHAPTER 157
(Senate Bill 647)

AN ACT concerning

Carroll County - Public Facilities Bonds

FOR the purpose of authorizing and empowering the County Commissioners of Carroll
County, from time to time, to borrow not more than $22,000,000 $15,000,000 in
order to finance the construction, improvement, or development of certain public
facilities in Carroll 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 Carroll
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,
public works projects such as roads, bridges and storm drains, public school buildings and
facilities, landfills, Carroll Community College buildings and facilities, public operational
buildings and facilities such as buildings and facilities for County administrative use,
public safety, health and social services, libraries, refuse disposal buildings and facilities,
and parks and recreation buildings and facilities, together with the costs of acquiring land
or interests in land as well as any related architectural, financial, legal, planning, or
engineering services.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the public 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; $22,000,000
$15,000,000 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.

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