Current as of December 31, 2021 | Updated by FindLaw Staff
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(a) In this subtitle the following words have the meanings indicated.
(b) “Board” means the Baltimore City Board of School Commissioners of the Baltimore City Public School System.
(c) “Bonds” means revenue bonds, refunding bonds, certificates, notes, demand notes, commercial paper, other evidence of indebtedness, and, where applicable, bond anticipation notes.
(d) “Chief Executive Officer” means the Chief Executive Officer of the Baltimore City Board of School Commissioners.
(e) “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 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 costs and revenue, and other expenses necessary or desirable for determining the feasibility or practicability of construction of any project;
(5) Reserves for the payment of debt service, operating reserves, and repair and replacement funds; and
(6) Administrative expenses and other expenses necessary or allocable to any project, the financing or refinancing of any project, the issuance of bonds, and the placing of any project in operation.
(f) “Project” means the acquisition, construction, reconstruction, equipping, maintenance, repair, or renovation of any public school facility.
(g) “Public school facility” means a building, parking facility, athletic facility, testing facility, or other facility in the City of Baltimore, now existing or hereafter acquired or constructed, that is used by the board in relation to the education of students in the Baltimore City Public School System.
Cite this article: FindLaw.com - Maryland Code, Education § 4-301 - last updated December 31, 2021 | https://codes.findlaw.com/md/education/md-code-educ-sect-4-301/
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