ANNE ARUNDEL COUNTY

4651

and (E) the acquisition of such interests in land as may be
necessary or desirable for such buildings together with roads,
other rights of access, utilities and other necessary site
preparation facilities, to be located at the east side of Central
Avenue north of Nursery Road in Patapsco Industrial Park to be
used as a warehouse a portion of which facility is to be leased
by the Borrower to Inner Harbor Warehousing and Distribution,
Inc., (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 August 13, 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 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