MD HB833

Carroll County is authorized to borrow up to $36,900,000 through general obligation bonds to finance construction, improvement, or development of public facilities including roads, bridges, storm drains, public schools, landfills, Carroll Community College buildings, libraries, water and sewer infrastructure, and parks and recreation facilities

Bond proceeds may also fund loans to volunteer fire departments in the County for fire or emergency-related equipment, buildings, and facilities

The County may use installment purchase obligations to acquire agricultural land and woodland preservation easements that restrict land use to maintain its agricultural or woodland character

Bonds are backed by the full faith and credit of Carroll County, with ad valorem property taxes levied annually to ensure payment of principal and interest; no bond may mature later than 30 years from issuance

All bonds, interest, and income derived from them are exempt from State, County, municipal, and other taxation in Maryland; effective June 1, 2025