4689
FRUITLAND

under this section shall not constitute an indebtedness
within the meaning of Section 113S hereof, and are hereby
specifically exempted from the restrictions contained in
Sections 9, 10, and 11 of Article 31 of the Annotated
Code of Maryland, 1957 Edition, as amended. Revenue
bonds issued under this section shall be authorized by
ordinance and issued in one or more series and bear such
date or dates, mature at such time of times, bear
interest at such rate or rates, not exceeding six
percentum per annus, be in such denomination or
denominations, be in such form either with or without
coupons or registered, carry such registration
privileges, have such rank or priority, be executed in
such manner, be payable in such place or places, be
subject to such terms of redemption (with or without
premium), be secured in such manner and have such other
characteristics as may be provided by such ordinances or
the trust indenture or mortgage executed pursuant
thereto. Such ordinance and any such trust indenture or
mortgage executed pursuant thereto, in case of an
issuance of revenue bonds for industrial development,
shall set forth the precise terms and conditions upon
which the City shall have agreed to provide a plant or
plants or other necessary facilities therefor, as
provided by the Council, which terms and conditions may
include:

(a)    Acquisition, construction and ownership by the
City or by a public non-profit corporation of all such
facilities and the lease thereof, to or installment
purchase thereof by the industry.

(b)    The acquisition, construction and ownership of
all such facilities by the industry, in whole or in part
by use of funds supplied by the City or by a public
non-profit corporation and secured by appropriate
mortgage or other security instrument payable in
installments over a period of years.

(c)    The payment by the industry of an annual sum
in lieu of taxes on such facilities if such facilities of
same are owned by the City or by a public non-profit
corporation.

(d)    Any other terms, provisions and restrictions
which the Council may determine to be necessary or
appropriate in the circumstances.

SECTION 113S. General obligation indebtedness.

The issuance and sale of general obligation bonds;
BOND, LOAN, OR GIFT ANTICIPATION NOTES; or tax
anticipation or emergency notes, shall constitute a
pledge of the full faith and credit of the City to the