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§ 9-1607. Issuance of bonds

West's Annotated Code of MarylandEnvironment

West's Annotated Code of Maryland
Environment
Title 9. Water, Ice, & Sanitary Facilities (Refs & Annos)
Subtitle 16. Maryland Water Infrastructure Financing Administration (Refs & Annos)
Part II. Powers and Duties
MD Code, Environment, § 9-1607
§ 9-1607. Issuance of bonds
Currentness
In general
(a) The Administration may, subject to the prior approval of the Board and the Secretary, issue bonds for the purpose of providing moneys for deposit to a fund.
Bond resolution
(b) With respect to each issue of bonds, the Director shall adopt a bond resolution determining:
(1) The date or dates of issue;
(2) The date or dates of maturity and the amount or amounts maturing on such date or dates;
(3) The fixed or variable rate or rates of interest payable on the bonds, or manner of determining the same, and the date or dates of such payment;
(4) The form or forms and denomination or denominations, manner of execution and the place or places of payment of the bonds and of the interest thereon, which may be at any bank or trust company within or without this State;
(5) Whether the bonds or any part thereof shall be made redeemable before maturity and, if so, upon what terms, conditions, and prices; and
(6) Any other matter relating to the forms, terms, conditions, issuance, and sale of the bonds.
Liability
(c) No person executing the bonds or approving the issuance of the bonds shall be liable personally on the bonds or subject to any personal liability by reason of the issuance of the bonds.
Enhancing marketability or securing bonds
(d) The Administration may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of or as security for the bonds.

Credits

Added by Acts 1988, c. 535. Amended by Acts 1993, c. 396.
MD Code, Environment, § 9-1607, MD ENVIR § 9-1607
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.
End of Document