WILLIAM DONALD SCHAEFER, Governor Ch. 688

to the State of the building constructed and equipped with the revenue bond
proceeds and for the payment of the principal of and interest on the revenue
bonds; authorizing the County Commissioners of Calvert County to enter into
certain trust agreements for certain purposes; authorizing the County
Commissioners of Calvert County to convey or assign any real or personal
property financed or refinanced through its revenue bonds as additional security
for the payment of the principal of and the interest on such revenue bonds;
requiring the revenue bonds to be payable from, in addition to other revenues
provided, the proceeds of any additional security held under the trust agreement
securing the revenue bonds; specifying that the revenue bonds and the interest on
the bonds are the limited obligations of Calvert County; prohibiting a charge or
indebtedness against the general credit or taxing power of Calvert County or the
County Commissioners of Calvert County; specifying that certain terms and
conditions of the revenue bonds be included in a certain resolution; providing that
such revenue bonds shall be in addition to, and may be issued on a consolidated basis
with, the revenue bonds authorized for the same purpose by Chapter 204 of the Laws
of Maryland of 1987, the authorization for which is ratified and confirmed; and
providing generally for the issue and sale of such revenue bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Calvert County are authorized to
borrow a sum not to exceed $3,000,000 and to issue and sell revenue bonds the proceeds
to be used for the purpose of paying the costs associated with the planning, financing,
design, construction, and equipping of a building in Calvert County to be leased to the
State for use as a multiservice center and to pay all expenses, including advertising,
printing, financial, advisory, and legal fees, incurred in the issuance and sale of the
revenue bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That the County
Commissioners of Calvert County shall by resolution fix the maturity of any of the
revenue bonds, provided that the bonds may not mature later than 30 years from the
date of their issue, and provided further that the revenue bonds may be issued on the
serial maturity plan or such other plan as the County Commissioners of Calvert County
find and determine to be necessary or desirable in connection with the issuance and sale
of the revenue bonds. The resolution may fix the denomination of the revenue bonds,
the interest rate or the manner of determining the interest rate of the revenue bonds,
the manner and place of payment, the date, place, and terms of the sale of the revenue
bonds, and all details not provided for with respect to the form, issuance, and sale. The
revenue bonds shall be signed by the President of the Board of County Commissioners
of Calvert County and by the Clerk to the County Commissioners of Calvert County.
The seal of the County Commissioners of Calvert County, or a facsimile, shall be affixed
to the revenue bonds.

SECTION 3. AND BE IT FURTHER ENACTED, That any revenue bonds
issued under this Act may be sold, in the discretion of the County Commissioners of
Calvert County, at public or private sale. Bonds may be sold at less than par. Any
revenue bonds sold under the authority conferred by this Act shall be exempted from
the provisions of Sections 10 and 11 of Article 31 of the Annotated Code of Maryland

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