§ 22-106
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/md/local-government/22-106·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§22–106.
(a)Notwithstanding any other provision of law, a Resilience Authority may issue and sell bonds periodically:
(1)for resilience infrastructure projects;
(2)to refund outstanding bonds;
(3)to pay the costs of preparing, printing, selling, and issuing the bonds;
(4)to fund reserves; and
(5)to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.
(b)Bonds issued by a Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of an incorporating local government.