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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Maryland Code, Local Government § 22-107 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-22-107/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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