PARRIS N. GLENDENING, Governor

Ch. 408

13-719.

In addition to the duties set forth elsewhere in this subtitle, the Authority shall:

(9) SUBMIT ANNUALLY A REPORT PREPARED IN COOPERATION WITH
THE OFFICE OF THE COMPTROLLER AND THE DEPARTMENT OF BUDGET AND
FISCAL PLANNING ON THE ADDITIONAL TAX REVENUES GENERATED BY THE
MONTGOMERY COUNTY CONFERENCE CENTER FACILITY.

SECTION 2. AND BE IT FURTHER ENACTED, That it is the intent of the
General Assembly that bonds issued by the Maryland Stadium Authority on behalf of
Montgomery County and to be repaid solely from rental or other payments provided by
Montgomery County shall not bo considered "tax supported debt" as defined in § 8-104
of the State Finance and Procurement Article the Maryland Stadium Authority may not
expend any funds authorized by this Act relating to the Montgomery County Conference
Center until the Maryland Stadium Authority has received certification from
Montgomery County that all necessary local approvals, including applicable local
planning and zoning approvals, for the Montgomery County share of the project have
been obtained.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1996.

Approved May 14, 1996.

CHAPTER 408
(Senate Bill 608)

AN ACT concerning

Cecil County - Public School and Community College Bonds

FOR the purpose of authorizing and empowering the County Commissioners of Cecil
County from time to time, to borrow not more than $9,000,000 in order to finance
the cost of certain school public school and community college facilities in Cecil
County and to effect that 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; and relating generally to the
issuance and sale of the bonds.

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