Ch. 247

2003 LAWS OF MARYLAND

be selected from among their number by a majority of the members of the Oakmont
Citizens' Committee of Oakmont Subdivision, or by their successors to be selected as
herein provided. Upon the treasurer having been duly selected by the committee and
giving corporate bond to Montgomery County, Maryland, satisfactory to and approved
by the county executive or his designee and the county attorney in a penal sum to be
fixed by them, conditioned upon faithful discharge of the duties of the treasurer, the
county council shall also order and have paid over to the treasurer the proportion of
the county road tax to be levied and collected in the same manner as though the
subdivision of Oakmont was an incorporated town, and the subdivision of Oakmont
shall for that purpose be considered by the county council as an incorporated town of
the county; and the proportion of the county road tax received by the treasurer of the
Oakmont Subdivision shall be used by the Oakmont Citizens' Committee exclusively
for the maintaining and repairing of streets and lanes within the Oakmont
Subdivision that may have been dedicated to the public or to Montgomery County and
whether accepted by the county or not; all other funds to be used by the Oakmont
Citizens' Committee directly or through the committee exclusively for maintaining,
repairing, lighting the streets, roads, alleys, sidewalks, parking, sanitation and other
maintenance and upkeep of existing improvements, for purposes set forth in section
70-3(c), and for enforcing such regulations as the citizens' committee may prescribe
for Oakmont Subdivision, or any part of the section thereof.

70-7.

For the purpose of making the improvements provided for in section 70-4, for
making improvements from time to time other than maintenance and repairs, the
citizens' committee is hereby authorized and empowered to borrow money at the legal
rate of interest and otherwise contract indebtedness and obligate the Oakmont
Subdivision in an initial amount not exceeding four thousand dollars ($4,000.00), and
in subsequent amount not exceeding in total in any calendar year THE SUM OF [two
(2)] EIGHT-TENTHS (0.8) percent of the assessed valuation of the real property OTHER
THAN OPERATING REAL PROPERTY OF A PUBLIC UTILITY AND TWO (2) PERCENT OF
THE ASSESSED VALUATION OF OPERATING REAL PROPERTY OF A PUBLIC UTILITY
within the Oakmont Subdivision. For these and other purposes set forth in this
chapter, the Oakmont Subdivision is constituted a corporation, and the citizens'
committee is empowered to act for the corporation. If there is default on bonds or
other indebtedness incurred by the citizens' committee of the Oakmont Subdivision
for the subdivision, it shall be the duty of the county council of Montgomery County to
levy or have levied special general taxes against the real property of the Oakmont
Subdivision to the extent only that such defaulted bonds or incurred indebtedness
shall be liquidated.

Article 19 - St. Mary's County

27-11.

A. Unless and until otherwise provided by ordinance of the County
Commissioners within the limitations provided by public general law, the aggregate
amount of bonds and other evidences of indebtedness outstanding at any one time
may not exceed A TOTAL OF THE SUM OF [five (5)] TWO (2) percent upon the
assessable [basis of the county] REAL PROPERTY IN THE COUNTY OTHER THAN

- 2082 -