Ch. 549                                        1995 LAWS OF MARYLAND

(IV) AGREES TO A COVENANT TO LEVY UPON ALL REAL AND
PERSONAL PROPERTY WITHIN THE SPECIAL TAXING DISTRICT AD VALOREM TAXES
OR SPECIAL TAXES IN RATE AND AMOUNT AT LEAST SUFFICIENT IN EACH YEAR IN
WHICH ANY OF THE BONDS ARE OUTSTANDING TO PROVIDE FOR THE PAYMENT OF
THE PRINCIPAL OF AND THE INTEREST ON THE BONDS.

(2)      THE ORDINANCE OR RESOLUTION MAY SPECIFY OR MAY
AUTHORIZE ITS FINANCE BOARD OR OTHER APPROPRIATE FINANCIAL OFFICER, BY
RESOLUTION OR ORDINANCE, OR ITS CHIEF EXECUTIVE OFFICER, BY EXECUTIVE
ORDER, TO SPECIFY ANY OF THE FOLLOWING AS IT DEEMS APPROPRIATE TO
EFFECT THE FINANCING OF THE PROPOSED UNDERTAKING:

(I) THE ACTUAL PRINCIPAL AMOUNT OF THE BONDS TO BE
ISSUED;

(II)     THE ACTUAL RATE OR RATES OF INTEREST FOR THE BONDS;

(III)    THE MANNER IN WHICH AND THE TERMS UPON WHICH THE
BONDS ARE TO BE SOLD;

(IV)    THE MANNER IN WHICH AND THE TIMES AND PLACES THAT
THE INTEREST ON THE BONDS IS TO BE PAID;

(V)     THE TIME OR TIMES THAT THE BONDS MAY BE EXECUTED,
ISSUED, AND DELIVERED;

(VI)    THE FORM AND TENOR OF THE BONDS AND THE
DENOMINATIONS IN WHICH THE BONDS MAY BE ISSUED;

(VII)  THE MANNER IN WHICH AND THE TIMES AND PLACES THAT
THE PRINCIPAL OF THE BONDS IS TO BE PAID, WITHIN THE LIMITATIONS SET FORTH
IN THIS SECTION;

(VIII)    PROVISIONS PURSUANT TO WHICH ANY OR ALL OF THE
BONDS MAY BE CALLED FOR REDEMPTION PRIOR TO THEIR STATED MATURITY
DATES; OR

(IX)   ANY OTHER PROVISIONS NOT INCONSISTENT WITH THIS
SECTION AS SHALL BE DETERMINED BY THE GOVERNING BODY OF THE COUNTY TO
BE NECESSARY OR DESIRABLE TO EFFECT THE FINANCING OF THE PROPOSED
UNDERTAKING.

(3)      (I) EXCEPT AS MAY BE REQUIRED BY THE MARYLAND
CONSTITUTION, AN ORDINANCE OR RESOLUTION AUTHORIZING THE BONDS
REQUIRED UNDER THIS SUBSECTION, AN ORDINANCE, RESOLUTION, OR EXECUTIVE
ORDER PASSED OR ADOPTED IN FURTHERANCE OF THE REQUIRED ORDINANCE OR
RESOLUTION, THE BONDS, THE DESIGNATION OF A SPECIAL TAXING DISTRICT, OR
THE LEVY OF A SPECIAL AD VALOREM TAX OR SPECIAL TAX MAY NOT BE SUBJECT
TO ANY REFERENDUM BY REASON OF ANY OTHER STATE OR LOCAL LAW.

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