§ 9-685
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/md/environment/9-685A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–685.
(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.