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Ch. 470
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2002 LAWS OF MARYLAND
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(2) Each local board chairman shall serve as liaison between the local
board and the State Board.
(3) (i) In Frederick County and in Garrett County, the local board
shall be composed of at least 9 but no more than 13 members, as determined by the
Board of County Commissioners.
(II) IN HARFORD COUNTY, THE LOCAL BOARD SHALL BE COMPOSED
OF AT LEAST 9 BUT NO MORE THAN 13 MEMBERS, AS PROVIDED BY LOCAL LAW
ENACTED BY THE COUNTY COUNCIL AND APPROVED BY THE COUNTY EXECUTIVE.
[(ii)] (III) In Montgomery County, the local board shall be composed
of at least 9 but no more than 13 members, as provided by local law enacted by the
County Council and approved by the County Executive.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2002.
Approved May 16, 2002.
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CHAPTER 470
(Senate Bill 533)
AN ACT concerning
Department of Transportation - Special Bonds and Borrowings
FOR the purpose of authorizing the Department of Transportation to issue certain
bonds and otherwise borrow funds to finance the cost of transportation facilities;
authorizing the Department to pledge and use existing and anticipated federal
funds to pay the principal of and interest on certain bonds; authorizing the
Department to borrow funds from the federal government and from a
nongovernment lender and to repay such loans and pledge to secure the
Department's obligations with revenues attributable to the transportation
facility being financed; establishing certain procedures for the issuance of
special transportation project revenue bonds; providing that the bonds shall be
investment securities under the laws of Maryland; exempting the bonds from
certain provisions of law; requiring the Department to report the proposed
issuance of certain bonds to the Legislative Policy Committee for review and
comment; providing for approval of the bonds by the Board of Public Works;
authorizing the issuance of refunding bonds, interim certificates or temporary
bonds, and bond anticipation notes; authorizing the Department to enter into a
certain trust agreement with respect to the bonds; exempting the bonds from
taxation by the State of Maryland and its political subdivisions; providing that
the bonds may not be considered a debt or a pledge of the faith and credit of the
State, but shall be payable only from certain revenues; providing for a certain
priority of certain claims; providing that the Department is only required to file
or record certain instruments in the records of the Department; and generally
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