Ch. 212 LAWS OF MARYLAND

of interest payable thereon, or the method of determining the same, which may include
a variable rate; the date or dates and amount or amounts of maturity, which need not be
in equal par amounts or in consecutive annual installments, provided only that no bond
of any issue shall mature later than 30 years from the date of its issue; the manner of
selling the bonds, which may be at either public or private sale, for such price or prices
as may be determined to be for the best interests of the County; the manner of
executing the bonds, which may be by facsimile; the terms and conditions, if any, under
which bonds may be tendered for payment or purchase prior to their stated maturity;
the terms or conditions, if any, under which bonds may Or shall be redeemed prior to
their stated maturity; the place or places of payment of the principal of and the interest
on the bonds, which may be at any bank or trust company within or without the State of
Maryland; covenants relating to compliance with applicable requirements of federal
income tax law, including, without limitation, covenants regarding the payment of
rebate or penalties in lieu of rebate; and generally all matters incident to the terms,
conditions, issuance, sale and delivery thereof.

The County may enter into agreements with agents, banks, fiduciaries, insurers or
others for the purpose of enhancing the marketability of and security for the bonds and
for the purpose of securing any tender option that may be granted to holders of the
bonds, all as may be determined and prescribed in the aforesaid resolution, which may,
but need not, state as security for the performance by the County of any monetary
obligations under such agreements the same security given by the County to
bondholders for the performance by the County of its monetary obligations under the
bonds.

In case any officer whose signature appears oh any bond ceases to be such officer
before delivery, the signature shall nevertheless be valid and sufficient for all purposes
as if the officer had remained in office until delivery. The bonds and their issue and sale
shall be exempt from the provisions of Sections 9, 10, and 11 of Article 31 of the
Annotated Code of Maryland as effective from time to time.

If the County determines in the resolution to offer any of the bonds by solicitation
of competitive bids at public sale, the resolution shall fix the terms and conditions of the
public sale and shall adopt a form of notice of sale, which shall outline the terms and
conditions, and a form of advertisement, which shall be published in one or more daily
or weekly newspapers having a general circulation in the County and which may also be
published in one dr more journals having a circulation primarily among banks 2nd
investment bankers. At least one publication of the advertisement shall be made not
less than ten (10) days before the sale of the bonds.

Upon delivery of any bonds to the purchaser or purchasers, payment shall be
made to the Director of the Department of Finance of Carroll County or such other
official of Carroll County as may be designated to receive payment in a resolution
passed by the County before delivery.

SECTION 4. AND BE IT FURTHER ENACTED, That the loan by the County
to the Hospital shall be evidenced by a Loan Agreement authorized by resolution of the
County, which resolution shall authorize the loan and form of Loan Agreement and
empower the County to enter into such Loan Agreement, and which may empower the

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