454                              Laws of Maryland                       Ch. 180

and corporate of the State of Maryland known as the County Com-

missioners of Calvert County, and the term "industrial park" shall
include the acquisition, construction, reconstruction, improvement,
extension, alteration, repair, modernization, and management of any
lands and structures to be used in connection with the development

of an area within Calvert County restricted to industrial and com-

mercial use. In all such cases the term "industrial park" shall include
without limitation the acquisition and development of sites for speci-
fic projects or facilities in the "industrial park," the architectural,
engineering and consulting services incident thereto and the acquisi-
tion and installation of necessary furnishings and fixed permanent
equipment and expenses of management thereof.

Sec. 2. And be it further enacted, That, to finance the construc-

tion of an industrial park as defined in Section 1 of this Act, said

County is hereby granted the power and authority to borrow money

and incur indebtedness for such purposes, from time to time, in an
amount not exceeding the sum of Five Hundred Thousand Dollars
($500,000) and to evidence such borrowing by the issuance and sale

upon its full faith and credit of its serial maturity, general obliga-

tion coupon bonds in like par amount, upon the terms and conditions

hereinafter set forth. Such bonds may be issued from time to time,

in one or more groups or series as funds for such public facilities

become necessary, provided, however, that the total debt which may
be incurred pursuant to the authority of this Act shall not exceed
Five Hundred Thousand Dollars ($500,000).

SECTION 1. BE IT ENACTED BY THE GENERAL AS-
SEMBLY OF MARYLAND, THAT SECTION 3 OF CHAPTER
477 OF THE ACTS OF 1969 BE AND IT IS HEREBY REPEALED
AND RE-ENACTED, WITH AMENDMENTS, TO READ AS
FOLLOWS:

3.

SUBJECT TO THE FOREGOING limitations, the County
shall, before borrowing any money or issuing any bonds pur-
suant to the authority of this Act, adopt a resolution describ-
ing generally the facilities for which said borrowing or in-
debtedness is intended, the amount needed for said purposes in the
aggregate, and determining to borrow 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 first installment to mature not later than five (5) years and the
last installment to mature not later than forty (40) years from the
date of issue of said group or series. In said resolution, the County
shall fix the annual serial maturity plan with respect to the bonds
to be issued thereunder and said annual serial maturities shall be
so fixed as to conform to the general financial plans of the County
but need not be in equal par amounts or in consecutive annual in-
stallments. Subject 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

Sec. 2. And be it further enacted, That, subject to the foregoing