ANNE ARUNDEL COUNTY

4641

reserves for such series, and (iii) 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 Real Property Borrower and Personal Property
Borrower (collectively, hereinafter referred to as the
"Borrower") dated July 24, 1985; providing that each series of
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 such series 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 described herein 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 matter's
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.