PARRIS N. GLENDENING, Governor Ch. 384

(III) REPORTS THE COMPTROLLER'S FINDING IN WRITING TO THE

BOARD.

(3) IF THE COMPTROLLER DETERMINES THAT AN APPLICATION
SUBMITTED UNDER PARAGRAPH (1) OF THIS SUBSECTION DOES NOT MEET THE
CRITERIA PROVIDED UNDER PARAGRAPH (2) OF THIS SUBSECTION, THE BOARD MAY NOT
ISSUE THE LICENSE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 8, 1997.

CHAPTER 384
(Senate Bill 833)

AN ACT concerning

Garrett County - Bonds for Garrett County Memorial Hospital

FOR the purpose of authorizing and empowering the County Commissioners of Garrett
County, from time to time, to borrow not more than $1,500,000 in order to assist in
the financing of the cost of certain hospital improvements in Garrett County, as
herein defined, and to effect such borrowing by the issuance and sale at public or
private sale of its general obligation bonds in like par amount; empowering the
County to fix and determine, by resolution, the form, tenor, interest 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 and
directing the County to enter into an agreement with Garrett County Memorial
Hospital for the payment of debt service requirements of the bonds from the
revenues of the Garrett County Memorial Hospital; 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 Garrett
County, and the term "hospital improvements" means the alteration, construction,
reconstruction, enlargement, equipping, expansion, extension, improvement,
rehabilitation, renovation, upgrading, and repair of the Garrett County Memorial
Hospital, including, but not limited to, the hospital buildings and facilities, capital

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