1824                                            LAWS OF MARYLAND                                     Ch. 571

NECESSARY TO ACCOMPLISH ITS PURPOSES.

(B) ANY REVENUE BONDS ISSUED UNDER THIS SECTION

SHALL:

(1)    BE IN SERIAL FORM AND PAYABLE, AS
CONSECUTIVELY NUMBERED, IN ANNUAL INSTALLMENTS, THE FIRST OF
WHICH SHALL BE PAYABLE WITHIN 2 YEARS OF THE DATE OF ISSUE;

(2)    BE PROPERLY AUTHENTICATED;

(3)    HAVE ATTACHED TO THEM ALL INTEREST COUPONS
TRANSFERABLE BY DELIVERY, AND THESE COUPONS SHALL BE
PROPERLY AUTHENTICATED; AND

(4)    MATURE AND BE PAYABLE WITHIN THE LESSER OF:

(I)    THIRTY YEARS AFTER THEIR DATE OF
ISSUE; OR

(II)   THE PROBABLE USEFUL LIFE OF THE
PROJECT FOR WHICH THEY ARE BEING ISSUED, OR, IF THEY ARE
BEING ISSUED FOR MORE THAN ONE PROJECT, THEN WITHIN THE
AVERAGE PROBABLE USEFUL LIFE OF THOSE PROJECTS.

(C)    IN THE CASE OF A BOND ISSUE UNDER THIS SECTION
FOR PROJECTS HAVING DIFFERENT PROBABLE USEFUL LIVES, THE
AUTHORITY SHALL CONSIDER THE AMOUNT OF THE BONDS TO BE
ISSUED ON ACCOUNT OF EACH PROJECT WHEN IT IS DETERMINING THE
AVERAGE PROBABLE USEFUL LIFE.

(D)    THE DETERMINATION OF PROBABLE USEFUL LIFE BY AN
AUTHORITY UNDER THIS SECTION SHALL BE CONCLUSIVE.

(E)    ANY REVENUE BONDS ISSUED UNDER THIS SECTION MAY
BE REGISTERABLE OR NONREGISTERABLE AS TO PRINCIPLE AND

INTEREST.

(F)    (1) ANY REVENUE BONDS ISSUED UNDER THIS SECTION
MAY BE GUARANTEED BY THE FULL FAITH AND CREDIT OF THE COUNTY
IN WHICH THE AUTHORITY IS LOCATED.

(2)    THIS GUARANTEE SHALL BE MADE BY ORDINANCE
OR RESOLUTION OF THE COUNTY GOVERNMENT.

(3)    NEITHER THE BONDS, NOR THE BORROWING WHICH
THEY REPRESENT, SHALL THEREAFTER BE SUBJECT TO ANY
REFERENDUM REQUIREMENTS WHATEVER OF THE COUNTY.

(G)    (1) EACH BOND ISSUE SHALL BE AUTHORIZED BY A
RESOLUTION APPROVED BY A VOTE OF AT LEAST FOUR OF THE FIVE
MEMBERS OF THE AUTHORITY.

(2) A RESOLUTION UNDER THIS SECTION SHALL
INCLUDE:

(I) THE AMOUNT Of THE PROPOSED ISSUE;