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§ 18-205. Bonds--Use of proceeds

West's Annotated Code of MarylandLand UseEffective: October 1, 2012

West's Annotated Code of Maryland
Land Use (Refs & Annos)
Division II. Maryland-National Capital Park and Planning Commission [Titles 14-27] (Refs & Annos)
Title 18. Finances (Refs & Annos)
Subtitle 2. Debt and Securities (Refs & Annos)
Effective: October 1, 2012
MD Code, Land Use, § 18-205
§ 18-205. Bonds--Use of proceeds
Currentness
Use in metropolitan district
(a) Subject to subsections (b) and (c) of this section, if the proceeds of a bond issue are to be expended throughout the metropolitan district, the proceeds shall be expended in the portion of each county in the metropolitan district in the proportion that the assessable base of that portion of either county bears to the assessable base of the entire metropolitan district.
Corporate purposes
(b) The Commission may issue bonds to carry out the Commission's corporate purposes in the metropolitan district in either county.
Recommendation
(c)(1) The proceeds of the sale of bonds to be expended in or for the benefit of the portion of the metropolitan district in Montgomery County shall be expended only on the recommendation of the commissioners from Montgomery County.
(2) The proceeds of the sale of bonds to be expended in or for the benefit of the portion of the metropolitan district in Prince George's County shall be expended only on the recommendation of the commissioners from Prince George's County.

Credits

Added by Acts 2012, c. 426, § 2, eff. Oct. 1, 2012.
MD Code, Land Use, § 18-205, MD LAND USE § 18-205
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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