1374                           LAWS OF MARYLAND                       CH. 689

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction of public air-
port facilities and industrial parks, as defined in Section 1 of this
Act, OR ANY COMBINATION THEREOF, and in order to make
such financing possible, said County is hereby granted the power and
authority to borrow money and incur indebtedness for such purpose,
from time to time, in an amount not exceeding the sum of Ten Million
Dollars ($10,000,000) EIGHT MILLION THREE HUNDRED
THOUSAND DOLLARS ($8,300,000) and to evidence such borrow-
ing by the issuance and sale upon its full faith and credit of its serial
maturity, general obligation coupon bonds in like par amount, upon
the terms and conditions hereinafter set forth. Such bonds may be is-
sued from time to time, in one or more groups or series, as funds for
such public airport facilities and industrial parks become necessary,
provided, however, that the total debt which may be incurred pursu-
ant to the authority of this Act shall not exceed Ten Million Dollars
($10,000,000) EIGHT MILLION THREE HUNDRED THOUSAND
DOLLARS ($8,300,000).

Sec. 3. And be it further enacted, That, subject to the fore-
going limitations, the County shall, before borrowing any money or
issuing any bonds pursuant to the authority of this Act, adopt a
resolution describing the public airport facilities and industrial parks
for which said borrowing or indebtedness is intended, the amount
needed for said purposes in the aggregate, and determining to bor-
row money or incur indebtedness for all or a part of the amount
so needed, and to issue its bonds to evidence such borrowing or
indebtedness. Each series or group of said bonds shall be issued to
mature in annual serial installments, the last installment to mature
not later than thirty (30) years from the date of issue of said
group or series. In said resolution, said County shall fix the annual
serial maturity plan with respect to the bonds to be issued there-
under and said annual serial maturities shall be so fixed as to con-
form to the general financial plans of the County but need not be
in equal par amounts or in consecutive annual installments. Sub-
ject to the limitations herein contained, said County shall have and
is hereby granted full and complete authority and discretion to
fix and determine, in said resolution, the form and tenor of any
such bonds, the rate or rates of interest payable thereon, or the
method of arriving at the same, the date or dates upon which said
bonds shall respectively mature and be payable, the manner of sell-
ing said bonds at public sale, and generally all matters incident or
necessary to the issuance, sale and delivery thereof. The bonds of
each such issue shall be dated, shall bear interest at such rate or rates
not exceeding six per centum (6%) per annum, payable semi-an-
nually, shall mature at such time or times as may be determined
by said resolution, and said bonds may, by said resolution, be made
redeemable before maturity, at the option of the County, at such
price or prices and under such terms and conditions as may be fixed
by said County, either in said resolution or in subsequent resolutions,
but prior to the issuance of said bonds. The principal of and the
interest on said bonds may be made payable to any lawful medium.
Said resolution shall determine the form of said bonds, including
any interest coupons to be attached thereto, and the manner of
executing and sealing the same, which may be by facsimile, and shall
fix the denomination or denominations of the bonds and the place or