Ch. 321

LAWS OF MARYLAND

facilities, the acquisition and installation of furnishings and
equipment for the public facilities, together with any related
financing charges, interest prior to and during construction
(and, if deemed necessary by the County, for a limited period
after completion of construction), interest and reserves for
principal and interest and for extensions, enlargements,
additions and improvements, architectural, engineering,
financial, legal, planning and other professional services,
plans, specifications, studies, surveys, estimates of cost and of
revenues, administrative expenses necessary or incident to
determining the feasibility or practicability of the public
facilities and such other expenses as may be necessary or
incident to the acquisition, construction, improvement,
development, rehabilitation, repair, furnishing and equipping of
the public facilities, the financing or refinancing of such
acquisition, construction, improvement, development,
rehabilitation, repair, furnishing and equipping and placing the
public facilities in operation.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is
hereby authorized and empowered to finance any part or all of the
costs of the acquisition, construction, improvement, development,
rehabilitation, repair, furnishing and equipping of the public
facilities and to borrow money and incur indebtedness for that
purpose, at one time or from time to time, in a principal amount
not exceeding, in the aggregate, $35,085,000, and to evidence its
borrowing by the issuance and sale upon its full faith and credit
of general obligation bonds in like par amount, which may be
issued at one time or from time to time, in one or more groups or
series, as the County may determine.

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall
be issued pursuant to a resolution of the Board which shall
describe generally the public facilities for which the proceeds
of the bond sale are intended and the amount needed for those
purposes. The County shall have and is hereby granted full and
complete authority and discretion in the resolution to fix and
determine with respect to the bonds of any issue: the
designation, date of issue, denomination or denominations, form
or forms and tenor of the bonds; the rate or rates of interest
payable thereon, or the method of determining the same which may
include a variable rate; the date or dates and amount or amounts
of maturity, which need not be in equal par amounts or in
consecutive annual installments, provided only that no bond of
any issue shall mature later than 30 years from the date of its
issue; the manner of selling the bonds, which may be at either
public or private sale, for such price or prices as may be
determined to be in the best interests of the County; the manner
of executing the bonds, which may be by facsimile; the terms and
conditions, if any, under which bonds may be tendered for payment
or purchase prior to their stated maturity; the terms and

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