Md. Code, Local Government § 22-107
This is the official text of Md. Code, Local Government § 22-107, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
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§22–107.
Official statutory text
(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.
(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.
(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.
(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.
Status: in_force · Read it on the official government site
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