(a) If the governing body of each member county that has territory in the service area of the project approves, a district may borrow money and pay interest to provide interim financing for a project.
(b) Borrowing under this section may not be for a period of more than 5 years.
(c) Each member county that approves a borrowing under this subsection shall guarantee payment of the principal and interest in the same way that a county makes guarantees under Part VIII of this subtitle.
Structure Maryland Statutes
Title 9 - Water, Ice, and Sanitary Facilities
Subtitle 6 - Sanitary Commissions
Part IV - Powers and Duties of Districts
Section 9-632 - Miscellaneous Powers
Section 9-633 - Eminent Domain
Section 9-634 - Combining Projects
Section 9-635 - Contracts to Buy and Sell Services
Section 9-636 - Construction Contracts
Section 9-638 - Acceptance of Grants and Gifts
Section 9-639 - Territory Lost to Annexation
Section 9-640 - Short Term Borrowing
Section 9-641 - Borrowing From Other Sources
Section 9-642 - Required Record Keeping