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<section article="gen" article_name="Environment" number="9-807" title_number="9" title_name="Water, Ice, and Sanitary Facilities" subtitle_number="8" subtitle_name="Sewerage Facilities Bond Act">
  <level label="a">
    <text>The provisions of this subtitle and any resolution that authorizes the issuance of bonds under this subtitle are a contract between the municipality and the bondholder.</text>
  </level>
  <level label="b">
    <text>The authorizing resolution may contain covenants as to:</text>
    <level label="1">
      <text>The disposition of the proceeds of sale of the bonds;</text>
    </level>
    <level label="2">
      <text>The disposition of the revenue of the sewerage facility for which the bonds are issued, including:</text>
      <level label="i">
        <text>The pledging to the punctual payment of the bonds issued under this subtitle and of the interest on those bonds as they become due an amount sufficient to pay the bonds and interest on an equal or priority basis from all or part of the revenue of all or part of the existing or planned sewerage facility; and</text>
      </level>
      <level label="ii">
        <text>The creation and maintenance of reasonable reserves, from all or part of the revenue, for the payment of the bonds issued under this subtitle and of the interest on those bonds;</text>
      </level>
    </level>
    <level label="3">
      <text>The issuance of additional bonds payable from the revenue of the sewerage facility;</text>
    </level>
    <level label="4">
      <text>The transfer from the general funds of the municipality to the account of the sewerage facility of an amount equal to the cost of providing the municipality or any of its departments, boards, or agencies with the services, facilities, and commodities of the sewerage facility;</text>
    </level>
    <level label="5">
      <text>The insurance to be carried on the sewerage facility and the disposition of insurance money;</text>
    </level>
    <level label="6">
      <text>The operation and maintenance of the sewerage facility;</text>
    </level>
    <level label="7">
      <text>The books of account of the sewerage facility and the inspection and audit of the books; and</text>
    </level>
    <level label="8">
      <text>The terms and conditions on which the bondholders or any trustee for the bondholders may petition the circuit court for the appointment of a receiver for the sewerage facility.</text>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>On petition of the bondholders or a trustee for the bondholders, the circuit court may appoint for a sewerage facility a receiver who may:</text>
      <level label="i">
        <text>Enter and take possession of the sewerage facility;</text>
      </level>
      <level label="ii">
        <text>Operate and maintain the sewerage facility;</text>
      </level>
      <level label="iii">
        <text>Set sewerage facility rates, fees, or charges; and</text>
      </level>
      <level label="iv">
        <text>Collect, receive, and apply all revenue of the sewerage facility.</text>
      </level>
    </level>
    <level label="2">
      <text>By mandamus or other appropriate suit, action, or proceeding in any court of competent jurisdiction, any bondholder may enforce:</text>
      <level label="i">
        <text>The duties under this subtitle of the municipality and its governing body and officers; and</text>
      </level>
      <level label="ii">
        <text>The resolutions adopted under this subtitle.</text>
      </level>
    </level>
  </level>
</section>
