4644

COUNTY LOCAL LAWS

land located in the southeast quadrant at the intersection of the
Baltimore Washington Parkway (Route 295) and Fort Meade Road
(Route 198), (Tax Map 28, parcels 40, 44 and 45), consisting of
approximately 100 acres (the "Land"); and (ii) the acquisition
and construction of roads, water lines and other utilities and
other necessary or desirable facilities, and the construction and
installation of improvements (excluding buildings) for the
development of the Land as an industrial park; (iii) the
acquisition of such other interests in land as may be necessary
or desirable in connection with the foregoing; (iv) the necessary
costs of preparing, printing, selling and issuing of the bonds or
other obligations; (v) the funding of reserves; and (vi) 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 the present
intent of the County to issue the revenue bonds and other
obligations so authorized and that the authority and present
intent 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 July 22, 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 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 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