Ch. 187                                    2004 LAWS OF MARYLAND

TIMES FROM EVERY KIND AND NATURE OF TAXATION BY THE STATE OR BY ANY OF
ITS POLITICAL SUBDIVISIONS, MUNICIPAL CORPORATIONS, OR PUBLIC AGENCIES OF
ANY KIND.

4-412.3.

THE BONDS ARE INVESTMENT SECURITIES.

4-412.4.

THE TITLE TO ANY PROPERTY ACQUIRED OR CONSTRUCTED UNDER THE
PROVISIONS OF THIS SUBTITLE SHALL BE HELD IN ACCORDANCE WITH STATE LAW

4-412.5.

(A) THE PROVISIONS OF THIS SUBTITLE, BEING NECESSARY FOR THE
WELFARE OF PRINCE GEORGE'S COUNTY AND ITS INHABITANTS, SHALL BE
LIBERALLY CONSTRUED TO EFFECT THE PURPOSES OF THE PROVISIONS.

(B) THE PROVISIONS OF THIS SUBTITLE ARE SEVERABLE AND, IF ANY OF THE
PROVISIONS SHALL BE HELD UNCONSTITUTIONAL BY ANY COURT OF COMPETENT
JURISDICTION, THE DECISION OF THE COURT MAY NOT AFFECT OR IMPAIR ANY OF
THE REMAINING PROVISIONS.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article—Education

3-1009.

(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B) "BONDS" MEANS REVENUE BONDS, REFUNDING BONDS, CERTIFICATES,
NOTES, DEMAND NOTES, COMMERCIAL PAPER, OTHER EVIDENCE OF INDEBTEDNESS,
AND, WHERE APPLICABLE, ANTICIPATION NOTES.

(C) "COSTS" AS APPLIED TO ANY PROJECT MEANS ALL COSTS OF THE
PROJECT, INCLUDING;

(1) THE COST OF ACQUISITION, CONSTRUCTION, RECONSTRUCTION,
EQUIPPING, MAINTENANCE, REPAIR, AND RENOVATION;

(2) THE COST OF ACQUISITION OF ALL LAND, RIGHTS OF WAY,
PROPERTY RIGHTS, EASEMENTS, AND INTERESTS ACQUIRED BY THE COUNTY
BOARD;

(3)     FINANCE CHARGES AND INTEREST PRIOR TO AND DURING
CONSTRUCTION AND FOR 1 YEAR AFTER COMPLETION OF CONSTRUCTION;

(4)     THE COST OF ARCHITECTURAL, ENGINEERING, AND LEGAL
EXPENSES, PLANS, SPECIFICATIONS, FEASIBILITY STUDIES, SURVEYS, ESTIMATES OF

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