WILLIAM DONALD SCHAEFER, Governor                         Ch. 580

SECTION 6. AND BE IT FURTHER ENACTED, That the County may enter
into an agreement or agreements with the Corporation pursuant to which the
Corporation shall be required to make periodic payments from the Hospital's revenues or
other assets to the County at such times and in such amounts to assure the timely
payment of the maturing principal of and interest on the bonds and any related expenses
of the County. However, the bonds shall constitute, and they shall so recite, an
irrevocable pledge of the full faith and credit and unlimited taxing power of the County to
the payment of the maturing principal of and interest on the bonds as and when they
become payable. In each and every fiscal year that any of the bonds are outstanding, the
County shall levy or cause to be levied ad valorem taxes upon all the assessable property
within the corporate limits of the County in rate and amount sufficient to provide for or
assume the payment, when due, of the principal of and interest on all the bonds maturing
in each such fiscal year and, in the event the Hospital revenues or the proceeds from the
taxes so levied in any fiscal year prove inadequate for such payment, additional taxes shall
be levied in the succeeding fiscal year to make up any deficiency. The County may apply
to the payment of the principal of and interest on any bonds issued under this Act any
funds received by it from the State of Maryland, the United States of America, any agency
or instrumentality of either, or from any other source. If such funds are available for the
purpose of assisting the County or the Corporation in financing the hospital
improvements, taxes that might otherwise be required to be levied under this Act may be
reduced or need not be levied to the extent that any such funds are received or receivable
in any fiscal year.

SECTION 6. 7. AND BE IT FURTHER ENACTED, That the County is
hereby further authorized and empowered, at any time and from time to time, to issue its
bonds in the manner hereinabove described for the purpose of refunding, upon purchase
or redemption, any bonds issued under this Act. The validity of any refunding bonds are
in no way dependent upon or related to the validity or invalidity of the obligations being
refunded. The powers granted under this Act with respect to the issuance of bonds shall
be applicable to the issuance of refunding bonds. Such refunding bonds may be issued by
the County for the purpose of providing it with funds to purchase in the open market any
of its outstanding bonds issued under this Act, prior to their maturity, or for the purpose
of providing it with funds for the redemption prior to maturity of any outstanding bonds
which are, by their terms, redeemable. The proceeds of the sale of any refunding bonds
shall be segregated and set apart by the County as a separate trust fund to be used solely
for the purpose of paying the purchase or redemption prices of the bonds to be refunded.

SECTION 7. 8. AND BE IT FURTHER ENACTED, That the County may,
prior to the preparation of definitive bonds, issue interim certificates or temporary bonds,
exchangeable for definitive bonds when such bonds have been executed and are available
for delivery. The County may, by appropriate resolution of the Board, provide for the
replacement of any bonds issued under this Act which may have been mutilated, lost or
destroyed upon whatever conditions and after receiving whatever indemnity as the
County may require.

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