28

LAWS OF MARYLAND

[Ch. 17

taxation and providing for the levy of taxes in
Calvert County for the payment of principal and
interest on such bonds and the pledging of the
proceeds from any loans to Calvert Memorial Hospital
of Calvert County and any security for such loans;
and making this Act effective as an Emergency Act.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Calvert County
are authorized and empowered to borrow at one time, or
from time to time, on the full faith and credit of the
County Commissioners of Calvert County, a sua or subs not
exceeding in the aggregate Eight Million Dollars
($8,000,000), and to issue and sell bonds therefor, the
proceeds thereof to be used for the purpose of making a
loan or loans to Calvert Memorial Hospital of Calvert
County for the planning, constructing, expanding,
altering, replacing, modernizing, and equipping of
hospital buildings and facilities in Calvert County and
to pay all expenses, including advertising, printing, and
legal fees, incurred in the issuance and sale of any
bonds hereunder.

SECTION 2. AND BE IT FURTHER ENACTED, That the
County Commissioners of Calvert County shall by proper
resolution fix the maturity or maturities of any such
bonds, provided, however, that no bonds so issued shall
nature later than [[twenty—five]] forty years from the
date of their issue, and provided further that any such
bonds shall be issued on the serial maturity plan except
that the first principal maturity need not be less than
two years from the date of issue. Such resolution may
fix the denomination or denominations in which said bonds
shall be issued, the interest rate or rates of said bonds
or the manner or determining the same, the manner and
place of payment, the date, place and terns of the sale
of the bonds, and all details not herein otherwise
provided for with respect to the form, issuance and sale
thereof. Such bonds shall be signed by the President of
the Board of County Commissioners of Calvert County and
by the Treasurer of the County Commissioners of Calvert
County, the signature of either of whom may be by
facsimile, and the seal of the County Commissioners of
Calvert County or a facsimile thereof shall be affixed
thereto. Such bonds shall be in coupon form, and the
coupons may be authenticated by the facsimile signature
of the President of the Board of County Commissioners of
Calvert County. Such bonds may be registrable as to
principal.

SECTION 3. AND BE IT FURTHER ENACTED, That any
bonds issued hereunder may be sold, in the discretion of
the County Commissioners of Calvert County, at public or
private sale; provided that no bonds shall be sold at