§ 22-107
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/md/local-government/22-107·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§22–107.
(a)For each issue of its bonds, a Resilience Authority shall adopt a resolution that:
(1)specifies and describes the resilience infrastructure;
(2)generally describes the public purpose to be served and the financing transaction;
(3)specifies the maximum principal amount of the bonds that may be issued; and
(4)imposes terms or conditions on the issuance and sale of bonds it considers appropriate.
(b)A Resilience Authority, by resolution, may:
(1)specify, determine, prescribe, and approve matters, documents, and procedures that relate to the authorization, sale, security, issuance, delivery, and payment of and for the bonds;
(2)create security for the bonds;
(3)provide for the administration of bond issues through trust or other agreements with a bank or trust company that cover a countersignature on a bond, the delivery of a bond, or the security for a bond; and
(4)take other action it considers appropriate concerning the bonds.