PARRIS N. GLENDENING, Governor

Ch. 180

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 anticipated 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 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; 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.

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 2C, 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 resolution 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 either be published in one or more
daily or weekly newspapers having a general circulation in the County or with appropriate
financial information services and which may also be published in one or more journals
having a circulation primarily among banks and investment bankers.

Upon delivery of any bonds to the purchaser or purchasers, payment shall be made
to the Treasurer of Frederick County or such other official of the County as may be
designated to receive payment in a resolution passed by the County Commissioners of
Frederick County before delivery.

For purposes of issuance and sale, bonds authorized hereunder may be consolidated
into a single issue with any other bonds authorized to be issued by the County.

SECTION 4. AND BE IT FURTHER ENACTED, That the net proceeds of the
sale of bonds shall be used and applied exclusively and solely for the public facilities for
which the bonds are sold. If the net proceeds of the sale of any issue of bonds exceeds the

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