Amends the Town of Laurel's charter to allow borrowing and bond issuance for municipal improvements without special elections or referendums.
The bill amends the Town of Laurel's charter to allow the Town Council to borrow money and issue bonds for municipal improvements without requiring special elections or referendums. The bonds can be issued for purposes such as constructing or repairing highways, streets, or water and sewage systems, and purchasing real estate for municipal purposes. The Town Council can authorize the issuance of bonds up to $17,000,000.00 without adhering to certain debt limits or budgeting obligations. The bonds can be sold at public or private sale, and the Town's credit is pledged for their payment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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