WILLIAM DONALD SCHAEFER, Governor                         Ch. 581

thereon and any income derived therefrom, from all State, county, municipal and
other taxation in the State of Maryland; and relating generally to the issuance and
sale of such bonds by Cecil County.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used in this Act, the term "County" means that body politic and
corporate of the State of Maryland known as the County Commissioners of Cecil County;
and the term "public facilities" means the costs of design, right-of-way construction,
rehabilitation and replacement of county bridges; and the costs of alteration,
construction, reconstruction, enlargement, expansion, extension, improvement,
replacement, rehabilitation, renovation, furnishing, equipping, upgrading and repair,
including related costs for architectural, financial, legal, planning, designing or
engineering services, any finance charges or interest prior to or during such financing and
any other costs or expenditures incurred by the County in connection therewith of the
following existing public schools facilities in the County including but not limited to:

(a)     Bohemia Manor Junior Senior High School in Chesapeake City and Cecil
Manor Elementary School in Elkton;

(b)     Cecil Manor Elementary School in Elkton Other schools and property of the
Board of Education of Cecil County; or

(c)     Rising Sun Middle School in Rising Sun County bridges at various sites.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the public 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, $11,768,000
$7,300,000 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 interest 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

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