ROBERT L. EHRLICH, JR., Governor                           H.B. 374

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
OPERATING REAL PROPERTY OF A PUBLIC UTILITY AND FIVE (5) PERCENT UPON THE
ASSESSABLE PERSONAL PROPERTY AND OPERATING REAL PROPERTY OF A PUBLIC
UTILITY. However, tax anticipation notes or other evidences of indebtedness having a
maturity not in excess of twelve (12) months, bonds or other evidences of indebtedness
issued or guaranteed by the county, payable primarily or exclusively from taxes levied
in or on or other revenues of special taxing areas or districts heretofore or hereafter
established by law, and bonds or other evidences of indebtedness issued for
self-liquidating and other projects payable primarily or exclusively from the proceeds
of assessments or charges for special benefits or services, are not subject to or to be
included as bonds or evidences of indebtedness in computing or applying the percent
limitation above provided.

49-2.

B.      The Board of County Commissioners for St. Mary's County are hereby
authorized and directed to levy for the year 1958 and annually thereafter, a fire tax
ON ALL PROPERTY LOCATED IN THE SECOND, EIGHTH, AND NINTH ELECTION
DISTRICTS AT A RATE of not more than [fourteen cents ($.14)] 5.6 CENTS on every one
hundred dollars ($100.00) of the assessed value of all real [and personal property
located in the Second, Eighth and Ninth Election Districts] PROPERTY OTHER THAN
OPERATING REAL PROPERTY OF A PUBLIC UTILITY, AND 14 CENTS ON EVERY ONE
HUNDRED DOLLARS ($100.00) OF THE ASSESSED VALUE OF PERSONAL PROPERTY AND
OPERATING REAL PROPERTY OF A PUBLIC UTILITY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is intended to
make technical corrections to reflect the change to full value assessment and taxation
of property as enacted by Chapter 80 of the Acts of 2000. It is the intent of the General
Assembly that the impact of this Act be revenue neutral.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 2003, and shall be applicable to all taxable years beginning after June
30, 2003.

May 22, 2003

The Honorable Michael E. Busch
Speaker of the House

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