MARVIN MANDEL, Governor

63

AN ACT concerning

Allegany County — Upper Potomac River District

FOR the purpose of removing the fixed maximum interest
rate for which Upper Potomac River District
certificates of indebtedness may be issued;
permitting the Commissioners to set the rate; and
clarifying language.

BY repealing and reenacting, with amendments,

The Public Local Laws of Allegany County
Section 613(a) and (b), 614(c) and 623(c)
Article 1 — Public Local Laws of Maryland
(1963 Edition and 1973 Supplement, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 613(a) and (b), 614(c) and 623(c)
of the Public Local Laws of Allegany County being Article
1 of the Public Local Laws of Maryland (1963 Edition and
1973 Supplement, as amended) be and they are hereby
repealed and reenacted, with amendments, to read as
follows:

Article 1

613.

(a)        The Commission is hereby authorized and
empowered to provide FROM TIME TO TIME by resolution for
the issuance at one time, or in series [from time to
time], of revenue bonds of the Commission for the purpose
of providing funds for paying the cost of facilities for
the treatment and disposal of sewage, industrial and
other wastes in the Luke—Westernport area and any area
contiguous [thereto] TO THAT AREA or in the vicinity
[thereof] OF THAT AREA. [Such] THESE bonds and any
interest coupons to be attached [thereto] TO THEM shall
be executed in [such] THE manner [as may be] determined
by the Commission.

(b)        The bonds of each series issued under the
provisions of this section shall bear interest at a rate
or rates [not exceeding five per centum (5%) per annum]
AS DETERMINED BY THE COMMISSION, payable semi-annually,
and shall be stated to mature at such time or times, not
exceeding [forty (40)] 40 years from their date, as may
be determined by the Commission.

614.

(c)    The bonds of each series issued under the
provisions of this subheading shall be exempt from the
provisions of Sections 9, 10, and 11 of Article 31 of the
Annotated Code of Maryland (1957 Edition, as amended) ,
and the Commission may sell such bonds in such manner,