Ch. 283                                    1994 LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to assist the Hospital to finance the construction or acquisition of hospital
facilities for the Hospital, as defined in Section 1 of this Act, upon such terms and
conditions as may be determined by the County. In order to make such financing possible,
the County is hereby authorized to finance any part or all of the cost of construction or
acquisition of hospital 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, $10,850,000, 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 cost of
construction or acquisition of hospital facilities for which the proceeds of the bond sale
are intended and the amount needed for each of 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, which, without
limitation, may be issued in registered form within the meaning of Section 30 of Article 31
of the Annotated Code of Maryland as effective from time to time; 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; covenants relating
to compliance with applicable requirements of federal income tax law, including, without
limitation, covenants regarding the payment of rebate or penalties in lieu of rebate; 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, all as may be determined and prescribed in the aforesaid resolution, which may,
but need not, state as security for the performance by the County of any monetary
obligations under such agreements the same security given by the County to bondholders
for the performance by the County of its monetary obligations under 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 as effective from time to time.

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