4626

COUNTY LOCAL LAWS

office headquarters facility (which facility is to be leased by
the Borrower to Spear Lancaster Associates, Inc., a Maryland
corporation); (iii) the acquisition and installation of certain
equipment and machinery that is necessary or useful in connection
with the operation of the building described in (ii) above and
the other improvements on the Land; (iv) the acquisition of such
interests in land as may be necessary or desirable for such
building together with roads, other rights of access, utilities,
and other necessary facilities; (v) the necessary costs of
preparing, printing, selling, and issuing of the bonds or other
obligations; (vi) the funding of reserves; and (vii) the payment
of interest with respect to such financing or to refund
outstanding bonds issued under the Act, all as provided in this
Resolution; making certain findings and determinations, among
others, concerning the public benefit and purpose of the revenue
bonds and other obligations authorized to be issued hereby;
providing that this Resolution shall constitute a commitment to
issue the revenue bonds and other obligations so authorized and
that the authority and commitment of the County to issue revenue
bonds and other obligations pursuant to this Resolution shall be
of a limited duration and making provision for the extension of
the authority contained herein; authorizing the County Executive
of the County to accept, on behalf of the County, the letter of
intent to the County from the Borrower dated February 21, 1985;
providing that such revenue bonds and other obligations (i) shall
be payable solely from revenue derived by the County in
connection with the financing of the facility, including, but not
limited to, loan repayments (both principal and interest) made to
the County by the Borrower or from the proceeds of bonds or other
obligations issued for the purposes of refunding other
obligations, and (ii) shall not ever constitute, within the
meaning of any statutory limitation, constitutional or charter
provision, or otherwise (a) an indebtedness of the County or (b)
a charge against the general credit or taxing powers of the
County; providing the maximum term of maturity for the bonds or
other obligations issued pursuant to this Resolution; authorizing
the County Executive of the County, or the Director of
Administration, Deputy Director of Administration, Budget
Officer, or Controller of the County with the approval of the
County Executive of the County, to specify, prescribe, determine,
provide for, or approve certain details, forms, documents, or
procedures in connection with the bonds or other obligations
issued hereunder and the loan of the proceeds of such bonds or
other obligations to the Borrower and any other matters necessary
or desirable in connection with the authorization, issuance,
sale, and payment of such revenue bonds or other obligations;
authorizing the County Executive, or the Director of
Administration, Deputy Director of Administration, Budget
Officer, or Controller of the County with the approval of the
County Executive, to take certain actions, to execute documents
and make certain commitments on behalf of the County in
connection with the issuance, sale, and delivery of such bonds or
other obligations; authorizing the execution and delivery of the
bonds or other obligations and such other documents as may be
necessary or desirable to effectuate the aforementioned borrowing
and the issuance, sale, and delivery of the bonds or such other