S.B. 455

VETOES

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 Carroll
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 and public works projects, including, but not limited to,
public works projects such as roads, bridges and storm drains, public school buildings and
facilities, landfills, Carroll Community College buildings and facilities, public operational
buildings and facilities such as buildings and facilities for County administrative use,
public safety, health and social services, libraries, refuse disposal buildings and facilities,
and parks and recreation buildings and facilities, together with the costs of acquiring land
or interests in land as well as any related architectural, financial, legal, planning, or
engineering services.

SECTION 2. AND BE IT FURTHER ENACTED, That the County is hereby
authorized to finance any part or all of the costs of the public facilities described in
Section 1 of this Act, to make loans to each and every volunteer fire department in the
County upon such terms and conditions as may be determined by the County for the
purpose of financing certain fire and emergency related equipment, buildings, or other
facilities of the volunteer fire departments, and to borrow money and incur indebtedness
for that purpose those purposes, at one time or from time to time, in an amount not
exceeding, in the aggregate, $18,400,000 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 or the fire and emergency
related equipment, buildings, or other facilities of volunteer fire departments in Carroll
County 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 Carroll County; the manner of executing and sealing the bonds, which may be by
facsimile; the terms and conditions of any loans made to the volunteer fire departments
from the proceeds of the bonds; 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 bonds,
which may be at any bank or trust company within or without the State of Maryland;
covenants relating to compliance with applicable requirements of federal income tax law,

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