3230                                          LAWS OF MARYLAND                                     Ch. 713

Chapter 276 of the Acts of the General Assembly of 1984
Section 3

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Chapter 226 of the Acts of 1982

SECTION 3. AND BE IT FURTHER ENACTED, That, subject to the
foregoing limitations, the county shall, before borrowing any
money or issuing any bonds pursuant to this authority of the Act,
adopt a resolution describing the projects of construction,
reconstruction, development, improvement, and modernization of
buildings and facilities of said volunteer fire departments
and/or the emergency related equipment for which said borrowing
or indebtedness is intended, the amount needed for said purposes
in the aggregate, and determining to borrow money or incur
indebtedness for all or a part of the amount so needed, and to
issue its bonds to evidence such borrowing or indebtedness. Each
series or group of said bonds shall be issued to mature in annual
serial installments, the last installment to mature not later
than twenty-five (25) years from the date of issue of said group
or series. In said resolution, said county shall fix the annual
serial maturity plan with respect to the bonds to be issued
thereunder, and said annual serial maturities shall be so fixed
as to conform to the general financial plans of the county, but
need not be in equal par amounts or in consecutive annual
installments. Subject to the limitations herein contained, said
county shall have and is hereby granted full and complete
authority and discretion to fix and determine, in said
resolution, the form and tenor of any such bonds, the rate or
rates of interest payable thereon, or the method of arriving at
the same, the date or dates upon which said bonds shall
respectively mature and be payable, the manner of selling said
bonds at public sale OR ON A LIMITED OFFERING BASIS, AS
HEREINAFTER PROVIDED, and generally all matters incident or
necessary to the issuance, sale, and delivery thereof. The bonds
of each such issue shall be dated, shall bear interest at such
rate or rates as may be determined, payable semi-annually, shall
mature at such time or times as may be determined by said
resolution, and be made redeemable before maturity, at the option
of the county, at such price or prices and under such terms and
conditions as may be fixed by said county, either in said
resolution or in subsequent resolutions, but prior to the
issuance of said bonds. The principal of and the interest on
said bonds may be made payable in any lawful medium. Said
resolution shall determine the form of said bonds, including any
interest coupons to be attached thereto, and the manner of
executing and sealing the same, which may be facsimile, and shall
fix the denomination or denominations of the bonds and the place
or places of payment of the principal and interest thereon, which
may be at any bank and trust company within or without the State
of Maryland. In case any officer whose signature shall appear on