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Ch. 559 2000 LAWS OF MARYLAND
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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.
SECTION 18. AND BE IT FURTHER ENACTED, That the authority to borrow
money and issue bonds conferred on the County by this Act shall be deemed to provide
additional, alternative, and supplemental authority for borrowing money and shall be
regarded as supplemental and additional to powers conferred upon the County by
other laws and shall not be regarded as in derogation of any power now existing; and
all Acts of the General Assembly of Maryland heretofore passed authorizing the County
to borrow money are hereby continued to the extent that the powers contained in such
Acts have not been exercised, and nothing contained in this Act may be construed to
impair, in any way, the validity of any bonds that may have been issued by the County
under the authority of any said Acts, and the validity of the bonds is hereby ratified,
confirmed, and approved. This Act, being necessary for the welfare of the inhabitants
of Frederick County, shall be liberally construed to effect the purposes hereof All Acts
and parts of Acts inconsistent with the provisions of this Act are hereby repealed to the
extent of such inconsistency.
SECTION 19. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2000.
Approved May 18, 2000.
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CHAPTER 559
(Senate Bill 773)
AN ACT concerning
Education - New Baltimore City Board of School Commissioners - Bonding
Authority
FOR the purpose of authorizing the New Baltimore City Board of School
Commissioners to issue bonds for the acquisition, development, or improvement
of public school facilities in the Baltimore City Public School System;
establishing the rights and duties associated with the bonding authority;
requiring passage of a certain resolution by the Mayor and City Council of
Baltimore before a bond may be issued; providing for the construction and
severability of a portion of this Act; and generally relating to the Baltimore City
Public School System.
BY repealing and reenacting, with amendments,
Article - Education
Section 4-301 and 4-313(a)
Annotated Code of Maryland
(1999 Replacement Volume)
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