Ch. 283

1994 LAWS OF MARYLAND

hospital facilities as defined in this Act and, to the extent of any such payments or funds
received or receivable in any fiscal year that the County determines to apply to payments
of the principal of or interest on the bonds, taxes that might otherwise be required to be
levied under this Act may be reduced proportionately or need not be levied.

SECTION 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 any bonds issued
under this Act by payment at maturity or the purchase or redemption of bonds in advance
of maturity. The validity of any refunding bonds shall in no way be dependent upon or
related to the validity or invalidity of the obligations being refunded. The powers herein
granted 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 pay any of its outstanding bonds issued under this Act at
maturity, to purchase in the open market any of its outstanding bonds issued under this
Act, prior to their maturity, to redeem prior to maturity any outstanding bonds which are,
by their terms, redeemable, to pay outstanding bonds which are, by their terms,
redeemable, to pay interest on any outstanding bonds prior to their payment at maturity
or purchase or redemption in advance of maturity or to pay any redemption or purchase
premium in connection with the refunding of any of its outstanding bonds issued under
this Act. 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 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, provide for the replacement of
any bonds issued under this Act which may have become mutilated or lost or destroyed
upon whatever conditions and after receiving whatever indemnity as the County may
require.

SECTION 9. AND BE IT FURTHER ENACTED, That any and all obligations
issued under this Act, their transfer, the interest payable on them, and any income
derived from them from time to time (including any profit made in their sale) shall be and
are hereby declared to be at all' times exempt from State, county, municipal or other
taxation of every kind and nature whatsoever within the State of Maryland.

SECTION 10. AND BE IT FURTHER ENACTED, That the authority to borrow
money and issue bonds conferred on the County by this Act shall be deemed to provide
additional, alternative and supplemental authority for borrowing money and shall be
regarded as supplemental and additional to powers conferred upon the County by other
laws and shall not be regarded as in derogation of any power now existing; and all
previously enacted laws authorizing the County to borrow money are hereby continued to
the extent that the power contained in them is continuing or has not been exercised,
unless any law is expressly repealed by this Act, and the validity of any bonds issued under
previously enacted laws is hereby ratified, confirmed and approved. This Act, being

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