Ch. 32

LAWS OF MARYLAND

(B)  THE COUNTY COMMISSIONERS IN THE EXERCISE OF THEIR
BORROWING POWERS MAY:

(1)  PURCHASE or lease any personal property necessary
or desirable for the operation of their respective county,
pursuant to a multiyear contract requiring that the County
Commissioners of the purchasing or leasing county make
installment or rental payments during 2 or more fiscal years; [to
pay]

(2)  PAY interest as part of any installment or rental
payments in accordance with the terms of the contract; and [to
pledge]

(3)  PLEDGE and assign the personal property purchased
or leased pursuant to any contract to secure the purchasing or
leasing county's obligations [thereunder, provided].

(C)  THE ACTION SPECIFIED IN SUBSECTION (B) OF THIS SECTION
MAY BE TAKEN IF the following conditions are met:

(1)  Funds sufficient to pay all amounts due under the
contract during the first fiscal year in which the contract is
effective are or will be available and have been appropriated and
can be used for this purpose;

(2)  The contract includes a termination provision
which permits the purchasing or leasing county to terminate the
contract if funds sufficient to pay all amounts due under the
contract for any fiscal year are not appropriated for this
purpose for [such] THE fiscal year. However, the contract may
provide that termination of the contract shall be ineffective if
the county purchases or leases personal property similar or
functionally related to that purchased or leased under the
contract within a period of time after termination, as specified
in the contract;

(3)  The contract provides that, absent a default in
payment by the purchasing or leasing county under the contract,
any obligation to pay amounts due under the contract shall be
limited to funds appropriated for this purpose for that fiscal
year; and

(4)  The contract provides that, in the event of
default in payment by the county under the contract, any
obligation to pay amounts due under the contract shall be limited
to funds appropriated for this purpose for that fiscal year,
amounts realized from the personal property purchased or leased
under the contract, and any other funds legally available for
this purpose.

Article 10 - Dorchester County

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