Bonds issued under this subtitle shall:
(1) Be dated;
(2) Bear interest at the rate or rates that the sanitary commission determines;
(3) Bear the seal of the district;
(4) Be signed for the district;
(5) Bear maturity dates that:
(i) Are determined by the sanitary commission; and
(ii) Are not more than 40 years from the date of issue; and
(6) Subject to the limitation on liability of each member county of a multiple county district under § 9-696 of this subtitle, be endorsed by each member county as follows: “The payment of interest when due and the principal at maturity is guaranteed by .......... (name of member county), Maryland”.
Structure Maryland Statutes
Title 9 - Water, Ice, and Sanitary Facilities
Subtitle 6 - Sanitary Commissions
Section 9-682 - Power of Sanitary Commission and Member Counties to Issue
Section 9-683 - Limitation on Total of Outstanding Bonds
Section 9-684 - Prerequisites for Issuance -- Resolution by Sanitary Commission
Section 9-685 - Prerequisites for Issuance -- Determinations by Sanitary Commission
Section 9-686 - Required Contents of Bonds
Section 9-687 - Signing of Bonds
Section 9-689 - Status of Bonds
Section 9-690 - Temporary Bonds and Receipts
Section 9-691 - Replacement of Bonds
Section 9-692 - Use of Bond Proceeds
Section 9-693 - Refunding Bonds
Section 9-694 - Levy of Property Tax
Section 9-695 - Payment of Bond Interest From Proceeds of Bonds
Section 9-696 - Multiple County Districts; Proportionate Liability of Member Counties