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§ 9-805. Authority to issue bonds; adoption of resolution

West's Annotated Code of MarylandEnvironment

West's Annotated Code of Maryland
Environment
Title 9. Water, Ice, & Sanitary Facilities (Refs & Annos)
Subtitle 8. Sewerage Facilities Bond Act
MD Code, Environment, § 9-805
§ 9-805. Authority to issue bonds; adoption of resolution
Authority to issue bonds
(a) By resolution, the governing body of any municipality may authorize the issuance of bonds under this subtitle to finance, wholly or partly, the cost of the development of any sewerage facility. In the determination of the cost, the governing body may include:
(1) Actual and estimated costs of issuing the bonds;
(2) Engineering expenses;
(3) Inspection expenses;
(4) Fiscal expenses;
(5) Legal expenses; and
(6) Interest estimated to accrue, during construction and for 6 months after construction, on money borrowed or expected to be borrowed under this subtitle.
Adoption of resolution
(b) The resolution:
(1) May be adopted at the meeting at which the resolution is introduced;
(2) May be adopted by a majority of all members of the governing body who are in office when the resolution is introduced; and
(3) Is effective immediately on adoption.

Credits

Added by Acts 1982, c. 240, § 2. Amended by Acts 1988, c. 6, § 1.
Formerly Art. 43, §§ 430, 431.
MD Code, Environment, § 9-805, MD ENVIR § 9-805
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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