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Ch. 291
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2002 LAWS OF MARYLAND
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"governing body" is deleted as surplusage.
In subsection (c)(1) of this section, the phrase "constitutional, statutory,
charter, or other" limitations is added for clarity.
In subsection (d) of this section, the former provisions relating to "coupon"
bonds are deleted since the federal law requiring the registration of
tax-exempt bonds has eliminated coupon bonds. See § 149(a) of the
Internal Revenue Code of 1986, as amended.
Also in subsection (d) of this section, the references to an "ordinance or
resolution" are added for clarity.
In subsection (d)(4)(i), (5)(iii) and (iv), and (6) of this section, the former
references to "prices", "denominations", "places", and "officers",
respectively, are deleted in light of Art. 1, § 8, which states that the
singular includes the plural and vice versa.
In subsection (d)(7) of this section, the former statement that the signature
or facsimile of a signature of an authorized officer who ceases to hold office
is "sufficient for all purposes" with regard to the integrity of the bonds is
deleted in light of the statement that the signature or facsimile of the
officer's signature remains "valid" even if the officer later ceases to hold
office.
Also in subsection (d)(7) of this section, the phrase "or takes office after the
date of issuance of the bonds" is added for clarity and completeness.
In subsection (e)(2) of this section, the reference to "payment of the
principal" is added for clarity and completeness.
Also in subsection (e)(2) of this section, the reference to "funding" costs of a
system is substituted for the former reference to "purchase" of a system for
clarity.
Subsection (f) of this section revises the provisions under former Art. 33, §
9-104(b)(4) governing the levying of taxes to pay the principal of and
interest on bonds to conform to provisions in other parts of State law and
public local laws. As revised, this subsection spells out the process with
some particularity, and in a manner consistent with other county general
bonds, so that voting system bonds are not burdened with a cloud on the
security of the bonds.
In subsection (g) of this section, the reference to "or other political
subdivision of the State" is added for clarity. Similarly, in subsection (g)(2)
of this section, the reference to a "unit" is added.
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Defined terms: "County" § 1-101
"Voting system" § 1-101
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- 2464 -
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