WILLIAM DONALD SCHAEFER, Governor Ch. 472

CHAPTER 472

(House Bill 1509)

AN ACT concerning

Frederick County - Bond Issue for
Frederick Memorial Hospital, Inc.

FOR the purpose of authorizing and empowering the County
Commissioners of Frederick County, at one time or from time
to time, to borrow in an amount not exceeding in the
aggregate $12,000,000 in order to finance the construction
of additions and improvements to buildings and facilities of
Frederick Memorial Hospital in Frederick County, as herein
defined, and to effect such borrowing by the issuance and
sale at private or public sale of its general obligation
bonds in like principal amount; empowering said County to
fix and determine, by resolution, the form, tenor,
maturities, interest rates or method of arriving at the
same, and all other terms and conditions, including
redemption and registration provisions, incident or
necessary to the issuance, sale, and delivery of said bonds,
without reference to the provisions of Sections 9, 10, and
11 of Article 31 of the Annotated Code of Maryland;
providing for notice and prescribing the manner of
publishing said notice in the event said bonds are sold at
public sale; empowering the County, subject to certain
limitations, to sell said bonds at, above, or below the par
value; empowering the County to issue refunding bonds for
the . purchase or redemption of bonds at or in advance of
maturity; empowering and directing the County to apply to
the payment of principal and interest of the bonds and the
refunding bonds any funds received from the State of
Maryland and the United States of America, which may be
properly allocable to said purposes; empowering the County
to enter into an agreement with Frederick Memorial Hospital,
Inc., for payment of the debt service requirements of the
bonds from revenues of Frederick Memorial Hospital and to
contract to levy and to levy, impose, and collect annually
ad valorem taxes which, in addition to available State and
federal revenues, if any, and revenues from Frederick
Memorial Hospital, Inc., will provide funds sufficient for
the payment of the maturing principal of and interest on
said bonds; exempting said bonds and said refunding bonds
and the interest thereon and any income derived therefrom,
from all State, County, and municipal taxation in the State
of Maryland; and providing for related matters.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That as used herein, the term "County" shall mean the
body politic and corporate of the State of Maryland known as the

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