WILLIAM DONALD SCHAEFER, Governor Ch. 212

advance of maturity; empowering the County, by resolution, to enter into a loan
agreement with Carroll County General Hospital, Inc., and related security
agreements; empowering and directing the County to levy, impose and collect,
annually, ad valorem taxes in rate and amount which, along with payments from
Carroll County General Hospital, Inc. pursuant to the loan agreement and State
and federal allotments, if any, will provide sufficient funds for the payment of the
maturing principal of and interest on the bonds; exempting the bonds and
refunding bonds, and the interest thereon and any income derived therefrom,
from all State, county, municipal and other taxation in the State of Maryland; and
generally relating to the issuance and sale of such bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That, as used in this Act, the term "County" means that body politic and
corporate of the State of Maryland known as the Board of County Commissioners of
Carroll County, the term "Hospital" means Carroll County General Hospital, Inc., the
term "Loan Agreement" means the agreement between the County and the Hospital
pursuant to which the County shall finance the cost of construction or acquisition of
certain hospital facilities and the Hospital shall make certain payments in consideration
of which, and the term "construction or acquisition of hospital facilities" means those
costs of acquisition, alteration, construction, reconstruction, enlargement, equipping,
expansion, extension, improvement, rehabilitation, renovation, upgrading and repair of
hospital buildings and facilities of the Hospital, including but not limited to the costs of
acquiring or mortgaging land or interests in land as well as any related architectural,
financial, legal, planning or engineering services, any finance charges or interest prior
to or during such construction or acquisition and any other expenses necessary or
incident to the project or the financing thereof.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to assist the Hospital to finance the construction or acquisition of hospital
facilities for the Hospital, as defined in Section 1 of this Act, upon such terms and
conditions as may be determined by the County. In order to make such financing
possible, the County is hereby authorized to finance any part or all of the cost of
construction or acquisition of hospital facilities described in Section 1 of this Act, and
to borrow money and incur indebtedness for that purpose, at one time or from time to
time, in an amount not exceeding, in the aggregate, $12,000,000, and to evidence its
borrowing by the issuance and sale upon its full faith and credit of general obligation
bonds in like par amount, which may be issued at one time or from time to time, in one
or more groups or series, as the County may determine.

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall be
issued pursuant to a resolution of the County which shall describe generally the cost of
construction or acquisition of hospital facilities for which the proceeds of the bond sale
are intended and the amount needed for each of those purposes. The County shall have
and is hereby granted full and complete authority and discretion in the resolution to fix
and determine with respect to the bonds of any issue: the designation, date of issue,
denomination or denominations, form or forms and tenor of the bonds, which, without
limitation, may be issued in registered form within the meaning of Section 30 of Article
31 of the Annotated Code of Maryland as effective from time to time; the rate or rates

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