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<section article="glg" article_name="Local Government" number="19-1003" title_number="19" title_name="Public Debt" subtitle_number="10" subtitle_name="Public Debt -- Grants and Loans for Septic Upgrades">
  <level label="a">
    <text>The principal of the notes may be paid from:</text>
    <level label="1">
      <text>the county’s allocation of funds from the special account of the Bay Restoration Fund established under § 9–1605.2(h) of the Environment Article; and</text>
    </level>
    <level label="2">
      <text>any other revenues that are pledged to the payment of the notes in the authorizing resolution.</text>
    </level>
  </level>
  <level label="b">
    <text>The interest on the notes may be paid from:</text>
    <level label="1">
      <text>any revenues, other than the county’s allocation of funds from the special account of the Bay Restoration Fund, that are pledged to the payment of the notes in the authorizing resolution; or</text>
    </level>
    <level label="2">
      <text>money made available to the county to finance upgrades to on–site sewage disposal systems from:</text>
      <level label="i">
        <text>the State or a unit of the State, except for the funds from the special account of the Bay Restoration Fund allocated under this subtitle for grants and loans;</text>
      </level>
      <level label="ii">
        <text>the federal government or a unit of the federal government; or</text>
      </level>
      <level label="iii">
        <text>any other source.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>A county may pledge its full faith and credit and taxing power to the payment of the principal of and interest on the notes in the authorizing resolution.</text>
    </level>
    <level label="2">
      <text>A county that makes a pledge under paragraph (1) of this subsection shall, in each fiscal year that any of the notes are outstanding, impose ad valorem taxes on all assessable property in the county at a rate and amount sufficient to pay the principal of and interest on the notes maturing in that fiscal year.</text>
    </level>
    <level label="3">
      <text>If the proceeds from the taxes imposed in any fiscal year prove inadequate for the payment, the county shall impose additional taxes in the succeeding fiscal year to make up the deficiency.</text>
    </level>
  </level>
</section>
