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<section article="gen" article_name="Environment" number="9-808" title_number="9" title_name="Water, Ice, and Sanitary Facilities" subtitle_number="8" subtitle_name="Sewerage Facilities Bond Act">
  <level label="a">
    <level label="1">
      <text>Except for bonds issued under this subtitle and sold to the United States or to any agency, instrumentality, or corporation of the federal government, any bond issued under this subtitle shall be sold:</text>
      <level label="i">
        <text>At public sale;</text>
      </level>
      <level label="ii">
        <text>After advertisement; and</text>
      </level>
      <level label="iii">
        <text>At a price that is not less than par.</text>
      </level>
    </level>
    <level label="2">
      <text>Any bond issued under this subtitle may be sold, at a price that is not less than par, to the United States or to any agency, instrumentality, or corporation of the federal government at private sale.</text>
    </level>
  </level>
  <level label="b">
    <text>The governing body of the municipality that issues the bonds may:</text>
    <level label="1">
      <text>Issue, to any purchaser of a bond, an interim receipt or certificate pending preparation of the definitive bond; and</text>
    </level>
    <level label="2">
      <text>Determine the form and provisions of the interim receipt or certificate.</text>
    </level>
  </level>
  <level label="c">
    <text>Any bond and interim receipt or certificate issued under this subtitle is:</text>
    <level label="1">
      <text>Fully negotiable within the meaning of and for all the purposes of Title 8 of the Commercial Law Article; and</text>
    </level>
    <level label="2">
      <text>Forever exempt from State, county, or municipal taxation.</text>
    </level>
  </level>
</section>
