2304

LAWS OF MARYLAND

Ch. 567

the bonds; empowering and directing the County to enter
into an agreement with Physicians Memorial Hospital,
Inc. 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, the interest thereon and any income derived
therefrom from all State, county, municipal and other
taxation in the State of Maryland; and relating
generally to the issuance and sale of such bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used in this Act, the term "County" means
the body politic and corporate of the State of Maryland
known as the County Commissioners of Charles County; the
term "Board" means the Board of County Commissioners of
Charles County, the governing body of the County; the term
"hospital improvements" means the cost of planning,
expansion, reconstruction, rehabilitation, renovation and
improvement of facilities of the Physicians Memorial
Hospital in Charles County, including the construction of
new hospital buildings and other facilities necessary or
useful for the effective or orderly operation of the
Hospital, including without limitation parking facilities,
means of access and utility services, the acquisition of
land, structures, real or personal property, rights,
rights-of-way, easements and other interests for such
facilities, the alteration, renovation or repair of existing
facilities, the furnishing and equipping of new or existing
facilities, demolition, removal and relocation of existing
structures, financing charges, interest prior to and during
construction (and, if deemed necessary by the County, for a
limited period after completion of construction), interest
and reserves for principal and interest and for extensions,
enlargements, additions and improvements, architectural,
engineering, financial, legal and other professional
services, plans, specifications, studies, surveys, estimates
of cost and of revenues, administrative expenses necessary
or incident to determining the feasibility or practicability
of the project and such other expenses as may be necessary
or incident to the construction and acquisition of the
hospital improvements, the financing or refinancing of such
construction and acquisition and placing the hospital
improvements in operation; and the term "Hospital" means the
Physicians Memorial Hospital in Charles County and any
successor or assignee thereof.

SECTION 2. AND BE IT FURTHER ENACTED, That the County
is hereby authorized and empowered to assist in financing
hospital improvements, as defined in Section 1 of this Act,
for the Hospital, and to borrow money and incur indebtedness
for that purpose, at one time or from time to time, in a
principal amount not exceeding, in the affregate aggregate,
Five Million Five Hundred Thousand Dollars ($5,500,000), and
to evidence such borrowing by the issuance and sale upon its