§ 5-5 City loans to Utility.
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 27, § 5-5 (2026)
§ 5-5 City loans to Utility.LinkCopy Citation
(a)In general.
The City may lend to the stormwater utility an amount not to exceed the equivalent to a 60-day cash-working-capital requirement.
(b)Repayment requirements.
The loan shall be repaid by the utility on or before 24 months from the date of the loan, with interest at the rate of the average interest earned by the City on its invested funds during the same period.
History: Ord. 13-143