Ch. 492 LAWS OF MARYLAND

INDENTURE SECURING THE BONDS OR UNDER WHICH THE SAME MAY
BE ISSUED.

I. THE CONTINUANCE OF TOLLS, RENTALS AND OTHER CHARGES
FOR THE USE OF A PROJECT AND THE USE OR APPLICATION THEREOF
AFTER ALL REVENUE BONDS ISSUED TO PAY THE COST OF A PROJECT
AND THE INTEREST THEREON SHALL HAVE BEEN FULLY PAID OR
PROVISION MADE FOR SUCH PAYMENT.

J. ANY OTHER OR ADDITIONAL AGREEMENTS WITH HOLDERS OF
THE BONDS.

119-5. ACQUISITION AND/OR SALE OF PROPERTY OR PROJECTS;
DISPOSITION OF PROCEEDS.

IT IS HEREBY FOUND AND DECLARED THAT THE PROVISION OF
SELF-LIQUIDATING PROJECTS, AS DEFINED IN § 119-2 OF THIS CHAPTER,
IN CHARLES COUNTY, INCLUDING ESPECIALLY ANY FACTORIES OR
INDUSTRIAL PLANTS LEASED TO PRIVATE OPERATORS, WILL RESULT IN
BENEFIT TO THE PUBLIC AND THAT, ACCORDINGLY, THE ACQUISITION
OR CONSTRUCTION OF SUCH PROJECTS BY THE COUNTY
COMMISSIONERS OF CHARLES COUNTY IS AN ESSENTIAL PUBLIC
PURPOSE AND THAT ALL PROPERTY ACQUIRED FOR ANY SUCH PROJECT
WILL CONSTITUTE AN ACQUISITION FOR PUBLIC USE. IF, IN THE SOLE
JUDGMENT OF THE COUNTY COMMISSIONERS OF CHARLES COUNTY,
THE SALE OF ANY SUCH PROJECT OR OF ANY OF THE PROPERTY
ACQUIRED THEREFOR WILL FURTHER PROMOTE THE PUBLIC INTEREST
BY BETTER SECURING THE PERMANENT ESTABLISHMENT OF INDUSTRY
IN THE COUNTY, THEN SUCH PROJECT AND PROPERTY MAY BE SOLD BY
THE COUNTY, AT PUBLIC OR PRIVATE SALE, PROVIDED ONLY THAT THE
PROCEEDS OF SUCH SALE, PLUS ANY OTHER FUNDS AVAILABLE FOR THE
PURPOSE, SHALL BE AT LEAST SUFFICIENT TO FULLY LIQUIDATE ANY
BONDS ISSUED BY THE COUNTY FOR THE COST OF SUCH PROJECT
PURSUANT TO THE AUTHORITY OF § 119-1 OF THIS CHAPTER,
INCLUDING THE INTEREST ON SUCH BONDS TO THE DATE OF PAYMENT
AND ANY REDEMPTION PREMIUM PAYABLE FOR SUCH BONDS. LIKEWISE
AND SUBJECT TO THE SAME PROVISO, ANY SUCH PROJECT AND THE
PROPERTY ACQUIRED THEREFOR MAY BE SOLD BY THE COUNTY IF IT
SHALL FIND THAT SAID PROJECT AND PROPERTY ARE NO LONGER
NEEDED FOR THE PUBLIC PURPOSES AND USE AFORESAID, PROVIDED
THAT ANY SUCH SALE SHALL ONLY BE MADE TO THE HIGHEST
RESPONSIBLE COMPETITIVE BIDDER AT PUBLIC SALE AFTER THE
COUNTY SHALL HAVE GIVEN AT LEAST TWO (2) WEEKS' PUBLISHED
NOTICE THEREOF. THE PROCEEDS OF ANY SUCH SALE OVER AND ABOVE
THE AMOUNTS NEEDED TO LIQUIDATE SAID BONDS AND THE INTEREST
AND PREMIUM THEREON AS AFORESAID SHALL BECOME PART OF THE
GENERAL FUNDS OF THE COUNTY, FREE OF ANY TRUST OR OTHER LIEN
AND AVAILABLE FOR EXPENDITURE BY THE COUNTY ON ANY OF ITS

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