620                                 Laws of Maryland                          Ch. 256

or other employees as from time to time in its judgment may be
necessary for the operation and administration of the Authority, or
any facility existing under the Authority.

(f)   The board is authorized to establish a pension and/or retire-
ment plan for employees, and is authorized to formulate and adopt
such amendments thereto as the board in its discretion deems neces-
sary.

(g)   The board is authorized to classify all hospital employees
and provide for a Merit System for those classes of employment
as it deems necessary or desirable.

(h) The board is authorized to require such employees as it deems
necessary to provide fidelity bonds for the faithful performance of
such employees' services to the Authority, or any facility existing
under the Authority; such bond to be written by a corporate surety
and to be in such amount as may be determined by the board.

759.

Finances

(a)  Fiscal Year. The Authority, or any facility existing under
the Authority, shall operate on a fiscal year of July 1 through
June 30.

(b)  The Authority, or any facility existing under the authority,
shall each year adopt a budget for the ensuing fiscal year. Such
proposed budget shall be first submitted to the State Department of
Public Works and the governing bodies of Anne Arundel, Howard,
Montgomery, and Prince George's Counties and the State Depart-
ment of Health.

(c)  Each year the board shall cause an audit of the expenses
incurred by the Authority, or any facility existing under the Author-
ity, to be made and certified to the State Department of Public
Works, the governing bodies of Anne Arundel, Howard, Mont-
gomery, and Prince George's Counties and the State Department of
Health. The said audit shall also include the amount of Certificates
of Indebtedness issued by the Authority as well as the interest ex-
penses incurred therefor.

760.
Bonding Authority

(A) The Authority is authorized and empowered to sell serial
bonds from time to time and in such amounts as it may deem neces-
sary upon the full faith and credit of the assets of the Authority, for
the purpose of funding its capital improvement program. The
proceeds of any such bond issued shall be used by the Authority
for the sole purpose of capital improvements, including the design,
planning and engineering studies for the purchase of land, capital
improvements and erection of buildings for any facility existing
under the Authority, or any facility to be constructed under the
powers and authority set out in this subtitle. Neither the Commis-
sioners of the Authority nor any person executing the bonds issued
under this section shall be liable personally on the bonds by reason
of the issuance thereof. The bonds and other obligations of the Au-
thority (and such bonds and obligations shall so state on their face)
shall not be a debt of Prince George's County , ANNE ARUNDEL,