ROBERT L. EHRLICH, JR., Governor                             Ch. 187

(1) LIMIT THE PURPOSE TO WHICH THE PROCEEDS OF ANY ISSUE OF
BONDS MAY BE APPLIED AND RESTRICT THE INVESTMENT OF REVENUES OR BOND
PROCEEDS IN GOVERNMENT OBLIGATIONS FOR WHICH PRINCIPAL AND INTEREST
ARE UNCONDITIONALLY GUARANTEED BY THE UNITED STATES OF AMERICA;

(2) PROVIDE FOR THE ISSUANCE OF ADDITIONAL BONDS TO FINANCE
OR REFINANCE ANY PROJECTS, WHICH MAY NOT EXCEED THE TOTAL VALUE OF THE
OUTSTANDING BONDS ALLOWED UNDER SUBSECTION (B) OF THIS SECTION;

(3) ASSIGN ALL OR ANY PART OF THE COUNTY BOARD'S FUNDS OR

ASSETS;

(4) PROTECT AND ENFORCE THE RIGHTS AND REMEDIES OF THE
BONDHOLDERS THAT ARE REASONABLE AND PROPER AND NOT IN VIOLATION OF
THE LAW, INCLUDING COVENANTS REGARDING;

(I) THE DUTIES OF THE COUNTY BOARD IN RELATION TO THE
PROJECT;

(II) THE DUTIES OF THE COUNTY BOARD IN RELATION TO ITS
FUNDS;

(III) THE CUSTODY, SAFEGUARDING, AND APPLICATION OF ALL
MONEYS; AND

(IV) THE RIGHTS AND REMEDIES OF BONDHOLDERS AND
TRUSTEES, INCLUDING RESTRICTIONS ON THE INDIVIDUAL RIGHT OF ACTION BY
BONDHOLDERS; AND

(5) THE COUNTY BOARD DEEMS REASONABLE AND PROPER FOR THE
SECURITY OF THE BONDHOLDERS, INCLUDING COVENANTS PERTAINING TO THE
ISSUANCE OF ADDITIONAL PARITY BONDS UPON STATED CONDITIONS.

(G) THE BONDS SHALL;

(1) BE DATED AND BEAR INTEREST AT THE FIXED OR VARIABLE RATE
OR RATES DETERMINED BY THE METHOD PROVIDED IN THE RESOLUTION OF THE
COUNTY BOARD AUTHORIZING THE ISSUANCE OF THE BONDS;

(2) MATURE AT A TIME OR TIMES NOT EXCEEDING THE USEFUL LIFE OF
THE PROJECTS FOR WHICH THE BONDS ARE ISSUED, BUT IN NO EVENT SHALL THE
MATURITY OF THE BONDS EXCEED 15 YEARS FROM THEIR DATE OR DATES OF ISSUE,
AS MAY BE DETERMINED BY THE BOARD;

(3) BE ISSUED AT, ABOVE, OR BELOW PAR VALUE FOR CASH OR OTHER
VALUABLE CONSIDERATION;

(4) BE PAYABLE AT A TIME OR TIMES, IN THE DENOMINATIONS AND
FORM, EITHER COUPON OR REGISTERED OR BOTH, AND CARRY THE REGISTRATION
AND PRIVILEGES AS TO CONVERSION AND FOR THE REPLACEMENT OF MUTILATED,
LOST, OR DESTROYED BONDS AS THE RESOLUTION OF THE COUNTY BOARD MAY
PROVIDE;

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