MARVIN MANDEL, Governor                             2349

SECTION 2. AND BE IT FURTHER ENACTED, That the
County is hereby authorized and empowered to finance the
construction of additions and improvements to "Frederick
Memorial Hospital, Inc.", as defined in. Section [[2]] 1
of this Act, and, in order to wake 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 two million dollars ($2,000,000) and to
evidence such borrowing by the issuance and sale upon its
full faith and credit of its serial maturity, general
obligation bonds in like par amount, upon the terms and
conditions hereinafter set forth. Such bonds may be
issued from tine to time, in one or more groups or
series, as funds for such buildings and facilities become
necessary, provided, however, that the total debt which
may be incurred pursuant to the authority of this Act
shall not exceed two million dollars ($2,000,000).

SECTION 3. AND BE IT FURTHER ENACTED, That, subject
to the foregoing limitations, the County shall, before
borrowing any money or issuing any bonds pursuant to the
authority of the Act, adopt a resolution describing the
[[project]] projects of construction, reconstruction,
development, improvement and modernization of buildings
and facilities of Frederick Memorial Hospital, Inc., for
which said borrowing or indebtedness 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 last installment to
mature not later than twenty (20) 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 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
installments. 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 fora 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 selling 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 as any be determined,
payable semi—annually, shall mature at such time or times