PARRIS N. GLENDENING, Governor

Ch. 407

II. ALLOW MONTGOMERY COUNTY TO KEEP ALL
OPERATING PROFITS RESULTING FROM THE OPERATION OF THE MONTGOMERY
COUNTY CONFERENCE CENTER FOR ALL YEARS; AND

C. D. PROVIDE FOR REMEDIES UPON DEFAULT WHICH
INCLUDE THE RIGHT OF THE AUTHORITY, IN THE EVENT OF A MATERIAL DEFAULT
BY MONTGOMERY COUNTY WHICH HAS NOT BEEN CORRECTED AFTER A
REASONABLE NOTICE AND CURE PERIOD, TO IMMEDIATELY ASSUME
RESPONSIBILITY FOR MAINTENANCE AND REPAIRS OF THE MONTGOMERY COUNTY
CONFERENCE CENTER FACILITY AND OFFSET THE COSTS OF SUCH MAINTENANCE
AND REPAIRS AGAINST OTHER AMOUNTS OWED BY THE AUTHORITY TO
MONTGOMERY COUNTY, WHETHER UNDER THE OPERATING AGREEMENT WITH
MONTGOMERY COUNTY OR OTHERWISE;

(IV) AN AGREEMENT BETWEEN MONTGOMERY COUNTY AND THE
AUTHORITY FOR THE ACQUISITION OF THE MONTGOMERY COUNTY CONFERENCE
CENTER SITE AND THE JOINT OWNERSHIP THEREOF AUTHORITY TO SELECT
THROUGH A COOPERATIVE PROCUREMENT AGREEMENT ONE OR MORE
CONTRACTORS TO DEVELOP, DESIGN, CONSTRUCT, OPERATE AND MANAGE THE
MONTGOMERY COUNTY CONFERENCE CENTER FACILITIES DURING THE PERIOD
THAT THE AUTHORITY'S MONTGOMERY COUNTY CONFERENCE CENTER FACILITIES
BONDS ARE OUTSTANDING

(V) AN AGREEMENT BETWEEN MONTGOMERY COUNTY AND THE
AUTHORITY THAT MAY ALLOW FOR THE ESTABLISHMENT OF A BOARD OF
DIRECTORS TO MANAGE THE MONTGOMERY COUNTY CONFERENCE CENTER, THAT
PROVIDES THAT THE BOARD OF DIRECTORS MAY INCLUDE REPRESENTATIVES OF
THE AUTHORITY, MONTGOMERY COUNTY, THE PRIVATE DEVELOPER, AND THE
COMMUNITY, AND THAT PROVIDES THAT UNLESS ACTION IS TAKEN TO CREATE A
JOINT VENTURE, CORPORATION, OR OTHER LEGAL ENTITY, THE BOARD OF
DIRECTORS IS NOT A SEPARATE LEGAL ENTITY; AND

(V) (VI) AN AGREEMENT AMONG MONTGOMERY COUNTY, THE
AUTHORITY, AND A PRIVATE DEVELOPER FOR THE ACQUISITION, CONSTRUCTION,
AND OPERATION OF A HOTEL ADJACENT TO THE MONTGOMERY COUNTY
CONFERENCE CENTER AND PROVIDING FOR A CAPITAL COMMITMENT FROM SUCH
DEVELOPER FOR SUCH HOTEL AND, AS APPROPRIATE, SHARED FACILITIES.

13-717.1.

(A)     (1) THERE IS A MONTGOMERY COUNTY CONFERENCE CENTER
FINANCING FUND.

(2) THE AUTHORITY SHALL USE THE MONTGOMERY COUNTY
CONFERENCE CENTER FUND AS A NONLAPSING, REVOLVING FUND FOR CARRYING
OUT THE PROVISIONS OF THIS SUBTITLE RELATING TO THE MONTGOMERY COUNTY
CONFERENCE CENTER FACILITY.

(B)     THERE SHALL BE DEPOSITED IN THE MONTGOMERY COUNTY
CONFERENCE CENTER FUND:

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