WILLIAM DONALD SCHAEFER, Governor                         Ch. 580

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
hospital improvements 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
the 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 and sealing 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 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 of the bonds.

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 9, 10, and 11 of Article 31 of the
Annotated Code of Maryland.

If the County determines in the resolution to offer any of the bonds by solicitation
of competitive bids at public sale, the resolutions shall fix the terms and conditions of the
public sale and shall adopt a form of notice of sale, which shall outline the terms and
conditions, and a form of advertisement, which shall be published in one or more daily or
weekly newspapers having a general circulation in the County and which may also be
published in one or more journals having a circulation primarily among banks and
investment bankers. At least one publication of the advertisement shall be made not less
than 10 days before the sale of bonds.

Upon delivery of any bonds to the purchaser or purchasers, payment therefor shall
be made to the Director of Finance of Charles County or such other official of the County
as may be designated to receive payment in a resolution adopted by the Board before
delivery.

SECTION 4. AND BE IT FURTHER ENACTED, That the net proceeds of the
sale of the bonds shall be used and applied exclusively and solely for financing the public
facilities hospital improvements for which the bonds are sold and shall be loaned or
otherwise paid by the County to or for the benefit of the Corporation as and when and
under such terms, conditions and documentation as the County directs, and secured by

- 2873 -