EASTON

4623

added to Article II of the Charter of the Town of Easton,
being a part of the Code of Public Local Laws of Maryland
(1930 Edition), as amended, titled "Talbot County",
sub—title "Easton", to read as follows:

SECTION 21 (A) IN ADDITION TO ITS OTHER POWERS,
THE TOWN OF EASTON MAY PROVIDE BY RESOLUTION OR ORDINANCE
FROM TIME TO TIME FOR THE ISSUANCE AND SALE OF REVENUE
BONDS OF THE TOWN FOR THE PURPOSE OF FINANCING ANY PART
OR ALL OF THE COST OF CONSTRUCTION, RECONSTRUCTION,
ACQUISITION, IMPROVEMENT, EXTENSION, ALTERATION,
MODERNIZATION, PLANNING, MAINTENANCE AND REPAIR OF ANY
MUNICIPALLY OWNED PUBLIC UTILITY PROPERTY, FACILITY OR
PROJECT, INCLUDING THE COST OF ALL INTERESTS IN PROPERTY
ACQUIRED IN CONNECTION THEREWITH, ANY FINANCING CHARGES
AND INTEREST PRIOR TO, DURING AND FOR ONE YEAR AFTER
COMPLETION OF CONSTRUCTION, FINANCIAL, ARCHITECTURAL,
CONSULTING, ENGINEERING AND LEGAL SERVICES, PLANS,
SPECIFICATIONS, SURVEYS, ESTIMATES, FEASIBILITY REPORTS,
DIRECT AND INDIRECT LABOR, MATERIALS, EQUIPMENT AND
ADMINISTRATIVE EXPENSES, AND ANY OTHER EXPENSES
INCIDENTAL THERETO, SUCH BONDS TO BE PAYABLE AS TO BOTH
PRINCIPAL AND INTEREST SOLELY FROM THE REVENUES OF ANY
PORTION OR ALL OF THE PROPERTY, FACILITIES OR PROJECTS OF
ANY MUNICIPALLY OWNED PUBLIC UTILITY OR UTILITY
DEPARTMENT OF THE TOWN OF EASTON OR THE EASTON UTILITIES
COMMISSION. SUCH BONDS SHALL NOT CONSTITUTE AN
INDEBTEDNESS OF THE TOWN OF EASTON TO WHICH ITS FAITH AND
CREDIT OR TAXING POWER ARE PLEDGED AND ALL SUCH BONDS
SHALL CONTAIN ON THEIR FACES A STATEMENT TO THAT EFFECT.

(B) THE TOWN SHALL HAVE ABSOLUTE DISCRETION BY
RESOLUTION OR ORDINANCE TO DETERMINE WITH RESPECT TO THE
BONDS OF ANY ISSUE: (I) THE DATE OR DATES OF ISSUE; (II)
THE DATE OR DATES AND AMOUNT OR AMOUNTS OF MATURITY,
PROVIDED ONLY THAT NO BOND OF ANY ISSUE SHALL MATURE
LATER THAN FORTY (40) YEARS FROM THE DATE OF ITS ISSUE;
(III) THE RATE OR RATES OR INTEREST PAYABLE THEREON AND
THE DATE OR DATES OF SUCH PAYMENT; (IV) THE FORMS OR
FORMS, DENOMINATION OR DENOMINATIONS, MANNER OF EXECUTION
(WHICH MAY BE BY FACSIMILE) AND THE PLACE OR PLACES OF
PAYMENT THEREOF, AND OF THE INTEREST THEREON, WHICH MAY
BE AT ANY BANK OR TRUST COMPANY WITHIN OR WITHOUT THIS
STATE; (V) WHETHER SUCH BONDS OR ANY PART THEREOF SHALL
BE MADE REDEEMABLE BEFORE MATURITY AND, IF SO, UPON WHAT
TERMS, CONDITIONS AND PRICES; (VI) PROVISIONS FOP
ISSUANCE IN COUPON OR IN REGISTERED FORM, OR BOTH, AND
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 HAVE BEEN
REGISTERED AS TO BOTH PRINCIPAL AND INTEREST AND FOR THE
REPLACEMENT OF BONDS WHICH BECOME MUTILATED OR ARE LOST