Md. Code, Local Government § 1-1425
This is the official text of Md. Code, Local Government § 1-1425, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
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§1–1425.
Official statutory text
(a) An authority may:
(1) impose rates, rents, fees, and charges related to a project and for the services related to a project; and
(2) contract with any person or governmental entity to exercise its authority under this section.
(b) The rates, rents, fees, and charges established by an authority under this section shall be imposed and adjusted so that the aggregate amount of the rates, rents, fees, and charges from the project, when added to other available money, is sufficient to:
(1) pay for the expenses of the project;
(2) pay the principal of and the interest on the bonds that the authority issued for the project as they become due and payable; and
(3) create and maintain reserves required or provided for in a trust agreement.
(c) The rates, rents, fees, and charges established by an authority under this section are not subject to supervision or regulation by any unit of the State.
(1) impose rates, rents, fees, and charges related to a project and for the services related to a project; and
(2) contract with any person or governmental entity to exercise its authority under this section.
(b) The rates, rents, fees, and charges established by an authority under this section shall be imposed and adjusted so that the aggregate amount of the rates, rents, fees, and charges from the project, when added to other available money, is sufficient to:
(1) pay for the expenses of the project;
(2) pay the principal of and the interest on the bonds that the authority issued for the project as they become due and payable; and
(3) create and maintain reserves required or provided for in a trust agreement.
(c) The rates, rents, fees, and charges established by an authority under this section are not subject to supervision or regulation by any unit of the State.
Status: in_force · Read it on the official government site
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