|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
|
|
|
|
Ch. 488
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMENDMENT PROCEDURE PROVIDED FOR IN § 7-209 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE, AN ADDITIONAL ASSESSMENT FOR THE EXPENDITURES
MAY BE MADE.
(E) (1) THE STATE TREASURER IS THE CUSTODIAN OF THE FUND.
(2) THE STATE TREASURER SHALL DEPOSIT PAYMENTS RECEIVED FROM
THE COMMISSION INTO THE FUND.
(F) (1) THE FUND IS A CONTINUING, NONLAPSING FUND AND IS NOT
SUBJECT TO § 7-302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE, AND MAY
NOT BE DEEMED A PART OF THE GENERAL FUND OF THE STATE.
(2) UNLESS OTHERWISE PROVIDED BY LAW, NO PART OF THE FUND MAY
REVERT OR BE CREDITED TO;
(I) THE GENERAL FUND OF THE STATE; OR
(II) A SPECIAL FUND OF THE STATE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October June 1, 2002.
Approved May 16, 2002.
|
|
|
|
|
|
|
|
|
|
CHAPTER 488
(Senate Bill 792)
AN ACT concerning
Carroll County - Public Facilities Bonds
FOR the purpose of authorizing and empowering the County Commissioners of
Carroll County, from time to time, to borrow not more than $22,600,000 in order
to finance the construction, improvement, or development of certain public
facilities in Carroll 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
|
|
|
|
|
|
|
|
|
|
- 3861 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
