§ 9–685
Statutes in effect as of October 1, 2026.
Md. Code Ann., Envir. § 9-685 (2026)
Title 9. Water, Ice, and Sanitary Facilities
Subtitle 6. Sanitary Commissions
§ 9–685LinkCopy Citation
(a)
Before a district issues any bonds:
(1)
The sanitary commission shall make the determinations required by this section; and
(2)
After the sanitary commission makes the determinations, the district shall issue the bonds in accordance with the determinations.
(b)
The sanitary commission:
(1)
Shall determine the form of the bonds;
(2)
Shall determine the manner of execution of the bonds;
(3)
Shall determine the denominations of the bonds;
(4)
Shall determine the place, which may be any bank or trust company, where the principal and interest of the bonds will be paid;
(5)
Shall determine whether interest coupons will be attached to the bonds and, if so, the form of the coupons;
(6)
May determine whether the bonds will be issued in:
(i)
Coupon form;
(ii)
Registered form; or
(iii)
Coupon form and registered form;
(7)
May determine whether coupon form bonds will be registered as to:
(i)
Principal; or
(ii)
Principal and interest;
(8)
May determine a method for reconverting into coupon form bonds any bonds that are registered as to principal and interest;
(9)
May determine whether the district will redeem bonds before maturity, and if so, shall specify:
(i)
The terms and conditions the sanitary commission will impose as to redemption before maturity; and
(ii)
The method the sanitary commission will use in determining the prices the district will pay to redeem bonds before maturity;
(10)
Shall determine any other condition, term, or provision as to the bonds that the sanitary commission is required to make under this subtitle; and
(11)
May determine any other condition, term, or provision as to the bonds that the sanitary commission is allowed to make under this subtitle.