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 Carroll 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
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, including (without limitation) covenants regarding the payment of
rebate or penalties in lieu of rebate; covenants relating to compliance with applicable
requirements of federal or state securities laws; and generally all matters incident to
the terms, conditions, issuance, sale, and delivery thereof.

The bonds may be made redeemable before maturity, at the option of the County,
at such price or prices and under such terms and conditions as may be fixed by the
County prior to the issuance of the bonds, either in the resolution or in subsequent
resolutions. The bonds may be issued in coupon or in registered form or both, and
provision may be made for the registration of the principal only, or of both principal
and interest, of bonds having coupons attached, and for the reconversion of bonds into
coupon form if any bond has been registered as to both principal and interest. In case
any officer whose signature appears on any bond or on any coupon attached thereto
ceases to be such officer before the delivery thereof, such signature shall nevertheless
be valid and sufficient for all purposes as if he had remained in office until such
delivery. The bonds and the issuance and sale thereof shall be exempt from the
provisions of Sections 9, 10, and 11 of Article 31 of the Annotated Code of Maryland.

The County may enter into agreements with agents, banks, fiduciaries,
insurers, or others for the purpose of enhancing the marketability of any security for
the bonds and for the purpose of securing any tender option that may be granted to
holders of the bonds, all as may be determined and presented in the aforesaid
resolution, which may (but need not) state as security for the performance by the