PARRIS N. GLENDENING, Governor                                S.B. 689

Article 11 - Frederick County

ARTICLE VI. COMMUNITY DEVELOPMENT AUTHORITIES

2-7-125.

(A)     (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2)      "BOND" MEANS A SPECIAL OBLIGATION BOND, REVENUE BOND,
NOTE, OR SIMILAR INSTRUMENT ISSUED BY THE COUNTY IN ACCORDANCE WITH
THIS SECTION.

(3)      "COST" INCLUDES THE COST OF:

(I)       CONSTRUCTION, RECONSTRUCTION, RENOVATION, AND
ACQUISITION OF ALL LANDS, STRUCTURES, REAL OR PERSONAL PROPERTY, RIGHTS,
RIGHTS-OF-WAY, FRANCHISES, EASEMENTS, AND INTERESTS ACQUIRED OR TO BE
ACQUIRED BY THE COUNTY OR ANOTHER ENTITY APPROVED BY THE COUNTY
COMMISSIONERS;

(II)     MACHINERY AND EQUIPMENT, INCLUDING MACHINERY AND
EQUIPMENT NEEDED TO EXPAND OR ENHANCE COUNTY SERVICES TO THE
COMMUNITY DEVELOPMENT AUTHORITY;

(III)    FINANCING CHARGES AND INTEREST PRIOR TO AND DURING
CONSTRUCTION AND, IF DEEMED ADVISABLE BY THE COUNTY COMMISSIONERS,
FOR A LIMITED PERIOD AFTER COMPLETION OF CONSTRUCTION, INTEREST AND
RESERVES FOR PRINCIPAL AND INTEREST, INCLUDING COSTS OF MUNICIPAL BOND
INSURANCE AND ANY OTHER TYPE OF FINANCIAL GUARANTY AND COSTS OF
ISSUANCE;

(IV)    EXTENSIONS,          ENLARGEMENTS,          ADDITIONS,          AND
IMPROVEMENTS;

(V)     ARCHITECTURAL, ENGINEERING, FINANCIAL, AND LEGAL
SERVICES;

(VI)    PLANS, SPECIFICATIONS, STUDIES, SURVEYS, AND ESTIMATES
OF COST AND OF REVENUES;

(VII)  ADMINISTRATIVE EXPENSES NECESSARY OR INCIDENT TO
DETERMINING WHETHER TO PROCEED WITH INFRASTRUCTURE IMPROVEMENTS;
AND

(VIII) OTHER EXPENSES AS MAY BE NECESSARY OR INCIDENT TO
THE CONSTRUCTION, ACQUISITION, AND FINANCING OF INFRASTRUCTURE
IMPROVEMENTS.

(B)      (1) FOR THE PURPOSES STATED UNDER PARAGRAPH (2) OF THIS
SUBSECTION, AND SUBJECT TO THE PROVISIONS OF THIS SECTION, THE COUNTY
COMMISSIONERS MAY:

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