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DE SB224
Bill
Status
7/15/2014
Primary Sponsor
Robert Venables
Click for details
AI Summary
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Increases the aggregate limit for general obligation bonds, certificates of indebtedness, notes, and other obligations issued by the Town of Laurel from $15,000,000 to $17,000,000 outstanding at any time.
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Removes the requirement for the Town Council to conduct a public hearing before authorizing bond issuances up to the limit.
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Allows Town Council to authorize bond issuances by majority vote resolution without meeting the detailed requirements in Section 36(a) paragraphs (1)-(8).
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Requires the authorizing resolution to specify the amount, municipal purpose, form, payment terms, interest rates, maturity dates, and sale method for any bonds issued.
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Maintains all other provisions of Section 36 as applicable to bonds issued under this authority, except those specific requirements waived by the amendment.
Legislative Description
An Act To Amend The Charter Of The Town Of Laurel With Regard To Increasing The Limit For Authorizing General Obligation Bonds, Certificates Of Indebtedness, Notes, Bonds, Or Other Obligations, Without Requiring A Public Hearing And A Special Election.
Last Action
Signed by Governor
7/15/2014