ANNE ARUNDEL COUNTY

4639

with the operation of the building described in (ii) above and
the other improvements in the land as may be necessary or
desirable for such buildings together with roads, parking
facilities, other rights of access, utilities and other necessary
facilities to be used as warehouse and office building (which
facility is to be leased by the Borrower to Mid-Atlantic Toyota
Distributors, Inc., a Delaware corporation (hereinafter referred
to as the "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 June 12, 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 in connection with the
bonds or other obligations issued hereunder 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 execution and delivery of the bonds
or other obligations and such other documents as may be necessary
or desirable to effectuate 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.

Approved August 26, 1985.