2013 Maryland Code
ENVIRONMENT
§ 9-697 - Miscellaneous bond provisions [Effective until October 1, 2013].

§9-697.

(a) Each person who has a duty to act in the payment of principal and interest on bonds issued under this subtitle shall perform promptly the act that is required.

(b) (1) Before a series of bonds is issued under this subtitle, the governing body of each member county that will be affected by the series shall advance to the district not more than $25,000.

(2) From the first proceeds available from the sale of the bonds, the district shall repay the advances made by the member counties.

(c) Unless the approval is required under this subtitle, a district is not required to obtain the approval of any entity before it issues bonds.

(d) The provisions of Article 31, §§ 9 through 11 of the Code do not apply to bonds issued under this subtitle.

§ 9-697 - Miscellaneous bond provisions [Effective October 1, 2013].

(a) Duty of certain persons in paying principal and interest on bonds. -- Each person who has a duty to act in the payment of principal and interest on bonds issued under this subtitle shall perform promptly the act that is required.

(b) Advances by member counties. --

(1) Before a series of bonds is issued under this subtitle, the governing body of each member county that will be affected by the series shall advance to the district not more than $ 25,000.

(2) From the first proceeds available from the sale of the bonds, the district shall repay the advances made by the member counties.

(c) Approval of other entities not required. -- Unless the approval is required under this subtitle, a district is not required to obtain the approval of any entity before it issues bonds.

(d) Exemption from certain other laws. -- The provisions of §§ 19-205 and 19-206 of the Local Government Article do not apply to bonds issued under this subtitle.