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§ 22-107. Bond resolutions

West's Annotated Code of MarylandLocal GovernmentEffective: July 1, 2020

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division IV. Local Finance [Titles 16-23] (Refs & Annos)
Title 22. Resilience Infrastructure (Refs & Annos)
Effective: July 1, 2020
MD Code, Local Government, § 22-107
§ 22-107. Bond resolutions
Currentness
In general
(a) For each issue of its bonds, a Resilience Authority shall adopt a resolution that:
(1) specifies and describes the resilience infrastructure;
(2) generally describes the public purpose to be served and the financing transaction;
(3) specifies the maximum principal amount of the bonds that may be issued; and
(4) imposes terms or conditions on the issuance and sale of bonds it considers appropriate.
Powers
(b) A Resilience Authority, by resolution, may:
(1) specify, determine, prescribe, and approve matters, documents, and procedures that relate to the authorization, sale, security, issuance, delivery, and payment of and for the bonds;
(2) create security for the bonds;
(3) provide for the administration of bond issues through trust or other agreements with a bank or trust company that cover a countersignature on a bond, the delivery of a bond, or the security for a bond; and
(4) take other action it considers appropriate concerning the bonds.

Credits

Added by Acts 2020, c. 235, § 1, eff. July 1, 2020; Acts 2020, c. 236, § 1, eff. July 1, 2020.
MD Code, Local Government, § 22-107, MD LOCAL GOVT § 22-107
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