(a) In the manner that the sanitary commission determines to be in the best interest of the district and the member counties, a district may sell bonds issued under this subtitle:
(1) At public or private sale; and
(2) At a price that meets the requirements of this section.
(b) The district may not sell bonds at a price so low that the effective rate of interest is greater than the rate of interest that the sanitary commission has determined for the bonds.
(c) The effective interest rate of the bonds shall be computed:
(1) Without regard to any premium that might be paid to redeem the bonds before maturity; and
(2) Otherwise in accordance with standard tables of bond values.
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