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PARRIS N. GLENDENING, Governor
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Ch. 559
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BY adding to
Article - Education
Section 4-306.1 through 4-306.6
Annotated Code of Maryland
(1999 Replacement Volume)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Education
4-301.
(a) In this subtitle the following words have the meanings indicated.
(b) "Board" means the New Baltimore City Board of School Commissioners of
the Baltimore City Public School System.
(C) "BONDS" MEANS REVENUE BONDS, REFUNDING BONDS, CERTIFICATES,
NOTES, DEMAND NOTES, COMMERCIAL PAPER, OTHER EVIDENCE OF INDEBTEDNESS,
AND, WHERE APPLICABLE, BOND ANTICIPATION NOTES.
[(c)] (D) "Chief Executive Officer" means the Chief Executive Officer of the
New Baltimore City Board of School Commissioners.
(E) "COSTS" AS APPLIED TO ANY PROJECT MEANS ALL COSTS OF THE
PROJECT, INCLUDING:
(1) THE COST OF ACQUISITION, CONSTRUCTION, RECONSTRUCTION,
EQUIPPING, MAINTENANCE, REPAIR, AND RENOVATION;
(2) THE COST OF ACQUISITION OF ALL LAND, RIGHTS-OF-WAY,
PROPERTY RIGHTS, EASEMENTS, AND INTERESTS ACQUIRED BY THE BOARD;
(3) FINANCE CHARGES AND INTEREST PRIOR TO AND DURING
CONSTRUCTION AND FOR 1 YEAR AFTER COMPLETION OF CONSTRUCTION;
(4) THE COST OF ARCHITECTURAL, ENGINEERING, AND LEGAL
EXPENSES, PLANS, SPECIFICATIONS, FEASIBILITY STUDIES, SURVEYS, ESTIMATES OF
COSTS AND REVENUE, AND OTHER EXPENSES NECESSARY OR DESIRABLE FOR
DETERMINING THE FEASIBILITY OR PRACTICABILITY OF CONSTRUCTION OF ANY
PROJECT;
(5) RESERVES FOR THE PAYMENT OF DEBT SERVICE, OPERATING
RESERVES, AND REPAIR AND REPLACEMENT FUNDS; AND
(6) ADMINISTRATIVE EXPENSES AND OTHER EXPENSES NECESSARY OR
ALLOCABLE TO ANY PROJECT, THE FINANCING OR REFINANCING OF ANY PROJECT,
THE ISSUANCE OF BONDS, AND THE PLACING OF ANY PROJECT IN OPERATION.
(F) "PROJECT" MEANS THE ACQUISITION, CONSTRUCTION, RECONSTRUCTION,
EQUIPPING, MAINTENANCE, REPAIR, OR RENOVATION OF ANY PUBLIC SCHOOL
FACILITY.
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- 2967 -
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