Skip to main content
Find a Lawyer

Maryland Code, Local Government § 19-616

Current as of January 01, 2025 | Updated by Findlaw Staff

(a)(1) The County Commissioners of Charles County may issue new school capacity construction bonds at any time on the full faith and credit of the county to fund the costs incurred to construct new capacity for public elementary, middle, and high school facilities in the county, including:

(i) costs for land acquisition, architectural and engineering design, infrastructure, new classrooms, equipment, interest on bond principal, and bond issuance; and

(ii) an amount equal to the total square footage of new public elementary, middle, and high school facilities in the county multiplied by the State square foot construction allowance, less the State funding share.

(2) The new school capacity construction bonds shall constitute securities:

(i) in which all public officers, public bodies of the State and its political subdivisions, insurance companies, State banks and trust companies, national banking associations, savings banks, savings and loan associations, investment companies, executors, administrators, trustees, and other fiduciaries may properly and legally invest money, including capital in their control or belonging to them; and

(ii) which may be properly and legally deposited with and received by any State or county officer, State unit, or political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State may be authorized by law.

(b) The County Commissioners of Charles County shall hold a public hearing and provide reasonable notice of the hearing before issuing new school capacity construction bonds.

(c) The issuance and sale of new school capacity construction bonds under this part is exempt from § 19-205 and § 19-206 of this title.

(d) The transfer of, interest on, and any income derived from new school capacity construction bonds are exempt from State and local taxes.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maryland Code, Local Government § 19-616 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-19-616/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard