Ch. 518                                    1996 LAWS OF MARYLAND

rate or rates or method of determining the same, terms, conditions, maturities, and
all other details incident to the issuance and sale of the bonds; empowering the
County to issue refunding bonds for the purchase or redemption of bonds in
advance of maturity; empowering and directing the County to levy, impose, and
collect, annually, ad valorem taxes in rate and amount sufficient to provide funds for
the payment of the maturing principal of and interest on the bonds; exempting the
bonds and refunding bonds and the interest thereon and any income derived
therefrom, from all State, county, municipal, and other taxation in the State of
Maryland; providing that nothing in this Act shall prevent the County from
authorizing the issuance and sale of bonds the interest on which is not excludable
from gross income for federal income tax purposes; and. relating generally to the
issuance and sale of such bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That, as used herein, the term "County" means the body politic and
corporate of the State of Maryland known as the County Commissioners of Calvert
County, and the term "construction, improvement, or development of public facilities"
means the acquisition, alteration, construction, reconstruction, enlargement, equipping,
expansion, extension, improvement, rehabilitation, renovation, upgrading, and repair of
public buildings and facilities, including, but not limited to, the following a new middle
school in Calvert County, to be named Windy Hill Middle School, together with related
architectural, financial, legal, planning or engineering services, of a new middle school in
Calvert County, to be named Windy Hill Middle School.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the facilities described in Section 1 of
this Act, and to borrow money and incur indebtedness for that purpose, at one time or
from time to time, in an amount not exceeding, in the aggregate, $4,700,000 and to
evidence such borrowing by the issuance and sale upon its full faith and credit of general
obligation bonds in like par amount, which may be issued at one time or from time to
time, in one or more groups or series, as the County may determine.

SECTION 3. AND BE IT FURTHER ENACTED, That the bonds shall be issued
in accordance with a resolution of the County, which shall describe generally the
construction, improvement, or development of public facilities for which the proceeds of
the bond sale are intended and the 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 Calvert County; the manner of executing and
sealing 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

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