(a) Any municipality may issue refunding bonds to refund, pay, or discharge the principal and interest on all or any part of the outstanding bonds:
(1) Issued by the municipality to finance the development of all or part of the sewerage facility; and
(2) In arrears or about to become due.
(b) The provisions of this subtitle that concern authorization and issuance of bonds apply to authorization and issuance of refunding bonds.
Structure Maryland Statutes
Title 9 - Water, Ice, and Sanitary Facilities
Subtitle 8 - Sewerage Facilities Bond Act
Section 9-802 - Construction of Subtitle
Section 9-803 - Legislative Policy
Section 9-804 - Powers of Municipality
Section 9-805 - Authority to Issue Bonds; Adoption of Resolution
Section 9-806 - Bond Provisions in Resolution
Section 9-807 - Contract With Bondholder; Covenants; Judicial Remedies
Section 9-809 - Validity of Bonds
Section 9-810 - Payment of Bonds and Interest
Section 9-811 - Sewerage Facilities to Be Self-Supporting
Section 9-812 - Disposition of Revenue From Sewerage Facilities