MARVIN MANDEL, Governor

2183

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]] this authority of the Act, adopt a resolution
describing the projects of construction, reconstruction,
development, improvement and modernization of buildings
and facilities of Carroll County General 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)]] twenty—five (25)
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
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 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 may be
determined, payable semi-annually, shall mature at such
time or tines as may be determined by said resolution and
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 in 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 facsimile, and shall fix the
denomination or denominations of the bonds and the place
or places of payment of the principal and interest