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VETOES
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S.B. 471
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In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 471 - Dorchester County - Public School Capital Improvement
Bonds.
This bill authorizes the County Commissioners of Dorchester County to issue up to
$2.5 million in general obligation bonds to finance capital improvements to the
county's public schools.
House Bill 1355, which was passed by the General Assembly and signed by me on
April 25, 2000, accomplishes the same purpose. Therefore, it is not necessary for me
to sign Senate Bill 471.
Sincerely,
Parris N. Glendening
Governor
Senate Bill No. 471
AN ACT concerning
Dorchester County - Public School Capital Improvement Bonds
FOR the purpose of authorizing and empowering the County Commissioners of
Dorchester County, from time to time, to borrow not more than $2,500,000 in
order to finance, with certain restrictions, certain public school capital
improvements in Dorchester 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 that body politic and
corporate of the State of Maryland known as the County Commissioners of Dorchester
County, and the term "public school capital improvements" means the cost of
alteration, construction, reconstruction, enlargement, expansion, extension,
improvement, rehabilitation, renovation, upgrading, equipping, and repair of public
school facilities in the County, including related costs for architectural, financial,
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- 3884 -
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