PARRIS N. GLENDENING, Governor

Ch. 522

(D)     THE COUNTY, WITHOUT LIMITATION TO OR BY ITS OTHER BORROWING
POWERS, AND ACTING WITHIN THE APPLICABLE PROVISIONS OF THIS SECTION, MAY
BORROW MONEY FOR ANY LAWFUL, PUBLIC PURPOSE, ON THE SECURITY OF
PAYMENT, INCLUDING TAXES, REVENUES, GRANTS OR OTHER STATED SOURCES OF
FUNDS AS THE COUNTY BY RESOLUTION DETERMINES, INCLUDING REFUNDING
ANY OBLIGATIONS OUTSTANDING FROM TIME TO TIME.

(E)     THE BORROWING POWERS GRANTED TO THE COUNTY IN THIS SECTION
ARE SUPPLEMENTAL AND IN ADDITION TO ANY OTHER BORROWING POWERS
WHICH HAVE BEEN OR MAY BE GRANTED TO THE COUNTY.

10-17.

(A)     (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2)      "COUNTY" HAS THE MEANING STATED IN § 10-16 OF THIS CHAPTER.

(3)      "PUBLIC FACILITY INVESTMENT" HAS THE MEANING STATED IN §
10-16 OF THIS CHAPTER.

(B)     NOTWITHSTANDING ANY OTHER PROVISION OF LAW, THE COUNTY
SHALL HAVE POWER AND AUTHORITY, FROM TIME TO TIME, TO BORROW MONEY
AND INCUR INDEBTEDNESS IN ORDER TO FINANCE ANY PUBLIC FACILITY
INVESTMENT OR FOR ANY LAWFUL, PUBLIC PURPOSE AS SET FORTH IN SUBSECTION
(D) OF THIS SECTION, OR TO PAY FOR ANY LAWFUL GOVERNMENTAL EXPENSES, IN
ANTICIPATION OF THE RECEIPT OF TAXES LEVIED, AND TO EVIDENCE THE
BORROWING OR INDEBTEDNESS BY THE ISSUANCE OF ITS PROMISSORY NOTES OR
ANY OTHER INSTRUMENT OF INDEBTEDNESS TO ANY BANKING INSTITUTION, OR BY
THE ISSUANCE OF ITS TAX ANTICIPATION NOTES, NOTES IN ANTICIPATION OF
OTHER SOURCES OF REVENUE, WITHOUT LIMITATION AS TO THE RATE OF
INTEREST, IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION.

(C)     ANY INSTRUMENT OF INDEBTEDNESS ISSUED UNDER THIS SECTION
SHALL BE ISSUED, SOLD AND DELIVERED IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF A RESOLUTION OR RESOLUTIONS PASSED BY THE COUNTY
COMMISSIONERS, SUBJECT TO THE FOLLOWING PROVISIONS, CONDITIONS AND
EXCEPTIONS:

(1)      AN ISSUE OF NOTES MADE PURSUANT TO THIS SECTION DOES NOT
REQUIRE A REFERENDUM, AND THE PROVISIONS OF ARTICLE 31, §§ 9, 10, AND 11 OF
THE ANNOTATED CODE OF MARYLAND DO NOT APPLY;

(2)      IF THE RESOLUTION OR RESOLUTIONS AUTHORIZING THE
ISSUANCE OF NOTES SHALL SO SPECIFY, THE NOTES MAY BE SOLD:

(I)       FOR A PRICE AT, ABOVE OR BELOW PAR, TO BEAR INTEREST
AT A REASONABLE RATE; AND

(II)     AT PRIVATE SALE WITHOUT ADVERTISEMENT OR
PUBLICATION OF NOTICE OR SALE OR SOLICITATION OF COMPETITIVE BIDS, ANY
PUBLIC GENERAL OR PUBLIC LOCAL LAW TO THE CONTRARY NOTWITHSTANDING;

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