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§ 9-812. Disposition of revenue from sewerage facilities

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, § 9-812
§ 9-812. Disposition of revenue from sewerage facilities
Currentness
Appropriation or expenditure of revenue
(a) Any municipality that issues bonds under this subtitle for the development of any sewerage facility may appropriate or expend the revenue from the sewerage facility for:
(1) Paying, when due, all bonds and the interest on the bonds, for the payment of which the revenue is pledged, charged, or otherwise encumbered;
(2) Providing for all expenses of operation and maintenance of the sewerage facility;
(3) Paying and discharging the principal and interest on any notes, bonds, or other obligations:
(i) Not issued under this subtitle, but for payment of which the revenue of the sewerage facility is pledged, charged, or encumbered; or
(ii) Issued to finance the development of the sewerage facility, but which do not constitute a lien, charge, or encumbrance on the revenue of the sewerage facility; and
(4) Providing a reserve for improvements to the sewerage facility.
Transfer of revenue
(b) Any municipality may transfer the revenue of any sewerage facility to the general funds of the municipality only after the municipality has made adequate provision for the purposes set out in subsection (a) of this section.

Credits

Added by Acts 1982, c. 240, § 2.
Formerly Art. 43, § 437.
MD Code, Environment, § 9-812, MD ENVIR § 9-812
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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