ANNE ARUNDEL COUNTY

4635

"Facility User"), (ii) the necessary costs of preparing,
printing, selling and issuing 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 County, the letter of intent to the
County from the Borrower dated April 25, 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 (without limitation) 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 obligation 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
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.