4821
POOLESVILLE

bonds or related bond anticipation notes of The
Commissioners of Poolesville may be issued, such
permanent financing expressly including (without
limitation) the refinancing of obligations issued or
incurred by The Commissioners of Poolesville in
November, 1969 and thereafter to pay costs of the
sewerage system and water supply and distribution
system of The Town of Poolesville; and relating
generally to the permanent financing, by refinancing
or otherwise, of costs previously financed by the
issuance of bond anticipation notes or general
obligation bonds.

RECITALS

In order to finance urgently need water and sewerage
facilities in 1969, The Commissioners of Poolesville
issued general obligation bonds for a term of 5 years
("1969 bonds") (which was the longest term that could
then be obtained by The Commissioners of Poolesville) and
incurred other obligations to pay costs of the sewerage
system and water supply and distribution system of the
Town of Poolesville. The Commissioners of Poolesville
recognized at that time the necessity of financing such
water and sewerage facilities over a longer term at the
maturity of the 1969 general obligation bonds when the
financial resources of The Commissioners of Poolesville
were expected to permit financing over a longer term at
reasonable rates.

In order to manage the finances of The Commissioners
of Poolesville in an orderly manner and to avoid now
unnecessary burdens on the citizens of Poolesville by
reason of unnecessarily rapid repayment of outstanding
indebtedness for water and sewerage facilities. The
Commissioners of Poolesville find it necessary to
authorize the repayment of the 1969 bonds at maturity and
the refinancing of the outstanding 1969 bonds and other
indebtedness incurred to pay costs of the sewerage system
and water supply and distribution system of the Town of
Poolesville on terms recommended by the financial advisor
to The Commissioners of Poolesville, consistent with the
public general laws of the State of Maryland.

Without limiting in any way the generality of the
provisions of the Charter of the Town of Poolesville, The
Commissioners of Poolesville desire to provide expressly
in such Charter that the contemplated refinancing
transaction is a proper public purpose which may be
served by the issuance of general obligation bonds or
related bond anticipation notes of The Commissioners of
Poolesville.

Section 1. BE IT RESOLVED by The Commissioners of