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Session Laws, 1983
Volume 745, Page 1400   View pdf image
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Ch. 449
LAWS OF MARYLAND
1400
tax authorized in this title on the bonds authorized hereinabove
in this title;], INCLUDING DEBT SERVICE FOR ANY BONDS ISSUED
UNDER THIS TITLE; these sums of money to be borrowed from any
bank or institution or individual willing to lend them. The
Commission from time to time may reissue or renew its tax
anticipation certificates of indebtedness at the same or a
greater interest rate[,]. [ provided that the] THE total amount
[so] borrowed UNDER THIS SECTION and outstanding in any fiscal
year [does] MAY not exceed 75 percent of the total proceeds
received by the Commission from the [tax] TAXES levied and
collected during the Commission's preceding fiscal year [with the
county] under this title. All moneys borrowed within any fiscal
year shall be repaid NOT LATER THAN during the next succeeding
fiscal year from the proceeds of the [tax received by the
Commission in the fiscal year last mentioned.] TAXES PROVIDED FOR
IN THIS TITLE. [6-107. The Commission may issue bonds for financing the Anacostia
River flood control and navigation projects as provided in §
83-118 (b) of the 1963 Edition of the Code of Public Local Laws
of Prince George's County, as that section may be amended or
renumbered from time to time. The Commission also has the
directive to pay a pro rata share of the principal and interest
on bonds issued under the authority of § 83-119 of the 1963
Edition of the Code of Public Local Laws of Prince George's
County, as the same was enacted by Chapter 154 of the Acts of the
General Assembly of 1955 and as it may be amended or renumbered
from time to time.] [6-108.] 6-106. (a) Montgomery County shall levy against all of the
property within that portion of the metropolitan district within
Montgomery County assessed for the purposes of county taxation!,]
annually [the] A tax of nine cents on each $100 of assessed
valuation. The tax shall be levied notwithstanding the fact that
no interest may be due on any bonds [or notes] and/or
notwithstanding the fact that no bonds [or notes] have been
issued under this title. Every 60 days the tax so levied and
collected to date by the county shall be remitted to the
Commission. The proceeds of the nine cents tax, after providing
for debt service on bonds issued!,] pursuant to §§ 6-101[, 6-102]
and 6-105 of this title may be used by the Commission for
policing the several parks or other areas under its jurisdiction
and/or for the purpose of acquisition, development,
beautification, or maintenance of parks and/or other areas and/or
the establishment therein of playground and recreational
facilities as the Commission determines. In addition to the
foregoing nine cents mandatory tax, Montgomery County may levy
against all property within that portion of the metropolitan
district within Montgomery County assessed for the purposes of
county taxation[,] annually a tax of two cents on each $100 of
assessed valuation; this additional two cents tax shall be in


 
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Session Laws, 1983
Volume 745, Page 1400   View pdf image
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