744

LAWS OF MARYLAND

Ch. 36

improvement of the Garrett County Memorial Hospital,
including the costs of development of property rights,
acquisition and installation of furnishings and
equipment, and any related planning, architectural, and
engineering services, and to effect such borrowing by
the issuance and sale at public or private sale of its
general obligation bonds in like par amount; empowering
the County to fix and determine, by resolution, the
form, tenor, interest rate or rates or method of
determining the same, terms, conditions, maturities,
and all other details incident to the issuance and sale
of the bonds; empowering the County to issue refunding
bonds for the purchase or redemption of bonds in
advance of maturity; empowering and directing the
County to enter into an agreement with the Board of
Governors of the Garrett County Memorial Hospital for
payment of the debt service requirements of the bonds
from revenues of the Hospital and further to levy,
impose, and collect, annually, ad valorem taxes in rate
and amount sufficient to provide funds that may
otherwise be necessary for the payment of the maturing
principal of and interest on the bonds; exempting the
bonds and refunding bonds, and the interest thereon,
and any income derived therefrom, from all State,
county, municipal, and other taxation in the State of
Maryland; relating generally to the issuance and sale
of such bonds; making this Act an Emergency Measure;
and submitting this Act to a local referendum.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used herein, the term "County" means the
body politic and corporate of the State of Maryland known as
the County Commissioners of Garrett County, the term "Board"
means the body politic and corporate of the State of
Maryland known as the Board of Governors of the Garrett
County Memorial Hospital, and the term "hospital
improvements" means the cost of expansion, reconstruction,
rehabilitation, renovation, and improvement of the Garrett
County Memorial Hospital located in Oakland, Maryland,
including the cost of development of property rights,
acquisition and installation of furnishings and equipment,
and related financial, planning, architectural, or
engineering services, any finance charges or interest prior
to or during construction, and any other expenses necessary
or incident to the project.

SECTION 2. AND BE IT FURTHER ENACTED, That the County
is hereby authorized and empowered to assist the Board in
financing hospital improvements, as defined in Section 1 of
this Act, and to borrow money and incur indebtness for that
purpose, at one time or from time to time, in an amount not
exceeding, in the aggregate, Six Million Dollars
($6,000,000), and to evidence such borrowing by the issuance
and sale upon its full faith and credit of general
obligation bonds in like par amount, which may be issued at
one time or from time to time, in one or more groups or
series, as the County may determine.