ANNE ARUNDEL COUNTY

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obligations; providing that approval of this Resolution by the
County Executive shall constitute the agreement of the County
Executive to report to the County Council on certain matters
pertaining to the bonds or other obligations; and generally
providing for, and determining, various matters in connection
with the issuance, sale, delivery, and payment of such bonds or
other obligations.

Approved May 2, 1985.

Resolution No. 32-85

A RESOLUTION

Entitled

A RESOLUTION authorizing and providing for the issuance from
time to time by Anne Arundel County, Maryland (the "County"), of
one or more series of its revenue bonds, bond anticipation notes,
notes in the nature of commercial paper and other instruments,
certificates or evidences of obligation as determined pursuant to
this Resolution in a principal amount not to exceed $1,800,000
designated "Anne Arundel County, Maryland Industrial Development
Revenue Bonds (Annapolis Commerce Park Project)," pursuant to the
provisions of the Maryland Economic Development Revenue Bond Act,
Sections 266A through 266-I, inclusive, of Article 41 of the
Annotated Code of Maryland (1982 Replacement Volume and 1984
Cumulative Supplement) (the "Act") in order to loan the proceeds
thereof to Annapolis Commerce Park Limited Partnership, a
Maryland limited partnership (hereinafter referred to as the
"Borrower"), for the sole and exclusive purpose of financing (i)
the acquisition by the Borrower of a certain facility consisting
generally of a one-story building containing approximately 62,000
square feet divided into 18 bays located at Industrial Drive and
Commerce Road in the Second Assessment District in Annapolis
Commerce Park in the County to be used as industrial storage and
office facilities (which facility is to be leased by the Borrower
to a certain tenant or tenants yet to be determined), (ii) the
necessary costs of preparing, printing, selling and issuing of
the bonds or other obligations, (iii) the funding of reserves,
and (iv) 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