§ 9-256
340 words·~2 min read·
/md/environment/9-256A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–256.
(a)If the Secretary serves an order on the State or any county, municipal corporation, or public water supply, sewerage, or sanitary district, the appropriate official or department of the State, county, municipal corporation, or district shall raise any funds that are necessary to comply on time with the order of the Secretary.
(b)If the Governor and the Attorney General approve, a county, municipal corporation, or public water supply, sewerage, or sanitary district may raise funds under subsection
(a)of this section by issuing bonds, stock, or notes without legislative authority other than this section.
(c)The question of whether to issue bonds, stock, or notes under this section need not be put to a referendum of the voters.
(d)The proceeds of any bonds, stock, or notes issued under this section:
(1)Constitute a sanitary fund; and
(2)May be used only to carry out the order of the Secretary.
(1)The total amount of all bonds, stock, and notes being issued at any time under this section, together with all bonds, stock, and notes then outstanding from prior issues under this section or any predecessor of this section, may not exceed 5% of the total value of all property that, at the time of issue, is listed and assessed for taxation in the county, municipal corporation, or district.
(2)The indebtedness authorized by this section is in addition to the total indebtedness otherwise permitted by law.
(3)Bonds, stock, and notes issued under this section are:
(i)Forever exempt from State, county, and municipal taxation;
(ii)A lien on all property in the jurisdiction that issues the bonds, stock, or notes; and
(iii)Payable in the same manner as bonds issued by municipal authorities under Part II of Subtitle 7 of this title.
(f)Unless the Secretary approves the expenditure, including the amount of the expenditure, neither the State nor any county, municipal corporation, or public water supply, sewerage, or sanitary district may spend any public money for any of the purposes of this subtitle.