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336 LAWS OF MARYLAND Ch. 205
(e) The construction, improvement, repair, opening, relocation, grading,
resurfacing, widening, extension and drainage of all public roads, streets, highways
and sidewalks in the County now or hereafter maintained and operated by or
under the jurisdiction of the County, including the acquisition of necessary
rights-of-way, and engineering services; the planning, design, construction and
reconstruction of free bridges constituting parts of any system of said roads,
streets, or highways;
(f) Any combination of the foregoing (a), (b), (c), (d) and (e), including the
acquisition and development of sites, the architectural and engineering services
incident thereto, the preparation of plans, drawings and specifications, the
development of grounds and landscaping thereof, and the acquisition and
installation of necessary furnishings and fixed permanent equipment therefor.
SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized and empowered to finance the construction and development of public
facilities, as defined in Section 1 of this Act, 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 purposes, from time to time, in an amount not
exceeding the sum of six million dollars ($6,000,000), and to evidence such
borrowing by the issuance and sale upon its full faith and credit of its 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 funds for such public facilities
construction or development become necessary.
SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall be
issued pursuant to a resolution of the County which shall generally describe the
public facilities for which the borrowing is intended and the amount needed for
such 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; the rate or rates of interest payable thereon,
or the method of determining the same; 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 thirty
(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 and sealing the
bonds, which may be by facsimile; 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; and generally all matters incident to the
terms, conditions, issuance, sale and delivery thereof.
The bonds may 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 the County prior to the issuance of the bonds, either in the resolution or
in subsequent resolutions. The bonds may be issued in coupon or in registered form
or both, and provision may be made for the registration of the principal only of
bonds having coupons attached, and for the reconversion of bonds into coupon
form if any such bonds shall have been registered as to both principal and interest.
In case any officer whose signature shall appear on any such bond, or on the
coupons attached thereto, shall cease to be such officer before the delivery thereof,
such signature shall nevertheless be valid and sufficient for all purposes as if he
had remained in office until such delivery. The bonds, and the issuance and sale
thereof, shall be exempt from the provisions of Sections 9, 10 and 11 of Article 31
of the Annotated Code of Maryland (1971 Replacement Volume), as amended
from time to time.
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