WILLIAM DONALD SCHAEFER, Governor                            Ch. 539

(2)      LOAN THE PROCEEDS OF THOSE BONDS TO THE PARTICIPATING
COUNTIES FOR USE IN PAYING THE COUNTIES' COST OF TRANSPORTATION
FACILITIES; AND

(3)      PROVIDE FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST
ON THE BONDS SOLELY FROM THE REVENUES PLEDGED FOR THAT PURPOSE BY THE
COUNTIES PARTICIPATING IN AN ISSUE OF BONDS UNDER THIS SUBTITLE.

(B)      THE BONDS SHALL BE KNOWN AS "COUNTY TRANSPORTATION REVENUE
BONDS".

(C)      BONDS ISSUED UNDER THIS SUBTITLE ARE NOT "COUNTY
TRANSPORTATION REVENUE BONDS" UNDER SUBTITLE 3 OF THIS TITLE.

3-504.

(A) A RESOLUTION AUTHORIZING THE ISSUANCE OF BONDS UNDER THIS
SUBTITLE SHALL DETERMINE AND SPECIFY:

(1)      THE DATE OR DATES OF ISSUE;

(2)      THE DATE OR DATES AND AMOUNT OR AMOUNTS OF MATURITIES,
WHICH NEED NOT BE IN EQUAL PRINCIPAL AMOUNTS OR CONSECUTIVE ANNUAL
INSTALLMENTS, BUT A BOND MAY NOT BE ISSUED TO MATURE LATER THAN 30
YEARS AFTER THE DATE OF ITS ISSUE;

(3)      THE RATE OR RATES OF INTEREST PAYABLE ON THE BONDS, OR
THE MANNER OF DETERMINING THE RATE OR RATES OF INTEREST, AND THE DATE
OR DATES OF PAYMENT OF INTEREST;

(4)      THE TENOR, FORM OR FORMS, DENOMINATION OR
DENOMINATIONS, MANNER OF EXECUTION, AND PLACE OR PLACES OF PAYMENT OF
THE PRINCIPAL OF AND INTEREST ON THE BONDS, WHICH MAY BE BY ANY BANK OR
TRUST COMPANY WITHIN OR WITHOUT THIS STATE;

(5)      WHETHER THE BONDS ARE TO BE ISSUED IN COUPON, REGISTERED
OR BOOK ENTRY FORM AND WHETHER PROVISION IS TO BE MADE FOR THE
REGISTRATION OF THE PRINCIPAL ONLY OF COUPON BONDS, FOR THE
RECONVERSION OF FULLY REGISTERED BONDS INTO COUPON FORM, AND FOR THE
REPLACEMENT OF BONDS THAT ARE MUTILATED, LOST, OR DESTROYED;

(6)      WHETHER THE BONDS ARE TO BE SOLD AT PUBLIC OR PRIVATE
SALE, AS DETERMINED BY THE SECRETARY;

(7)       IF THE BONDS ARE TO BE SOLD AT PUBLIC SALE, THE FORM OF
NOTICE OF SALE, WHICH SHALL OUTLINE THE TERMS AND CONDITIONS OF THE
SALE, AND THE FORM OF ADVERTISEMENT OF A SUMMARY NOTICE OF SALE, WHICH
SHALL BE PUBLISHED AT LEAST ONCE IN AN APPROPRIATE NEWSPAPER OF
GENERAL CIRCULATION AS DETERMINED BY THE SECRETARY;

(8)      WHETHER ALL OR ANY PART OF THE BONDS ARE REDEEMABLE
BEFORE MATURITY AND, IF SO, THE TERMS, CONDITIONS, AND PRICES OF
REDEMPTION; AND

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