WILLIAM DONALD SCHAEFER, Governor

Ch. 548

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used herein, the term "County" means the body politic and
corporate of the State of Maryland known as the County Commissioners of Frederick
County; "public facilities" means the costs of construction and reconstruction of capital
projects including, but not limited to, landfill projects, public schools, roads, bridges,
flood control projects, solid waste facilities, water and leachate treatment facilities, and
communication systems, including development of property, acquisition, and installation
of equipment and furnishings, together with any related architectural, financial, legal,
planning, or engineering services.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the facilities described in Section 1 of
this Act, and to borrow money and incur indebtedness for that purpose, at one time or
from time to time, in an amount not exceeding, in the aggregate, $25,000,000 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 County 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 for 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 or conditions, if any, under which bonds may or shall be redeemed
prior to their stated maturity; the place or places of payment of the principal of and the
interest on the bonds, which may be at any bank or trust company within or without the
State of Maryland; and generally all matters incident to the terms, conditions, issuance,
sale and delivery thereof.

The County may enter into agreements with agents, banks, fiduciaries, insurers, or
others for the purpose of enhancing the marketability of and security for the bonds and
for the purpose of securing any tender option that may be granted to holders of the
bonds.

In case any officer whose signature appears on any bond ceases to be such officer
before delivery, the signature shall nevertheless be valid and sufficient for all purposes as
if the officer had remained in office until delivery. The bonds and their issue and sale
shall be exempt from the provisions of Sections 2C, 9, 10, and 11 of Article 31 of the
Annotated Code of Maryland.

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