WILLIAM DONALD SCHAEFER, Governor Ch. 499
Article 23A - Corporations - Municipal

44A.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2) "BOND" MEANS A REVENUE BOND, NOTE, OR OTHER
SIMILAR INSTRUMENT ISSUED BY A MUNICIPAL CORPORATION IN
ACCORDANCE WITH THIS SECTION.

(3) "COST" INCLUDES THE COST OF:

(I) CONSTRUCTION, RECONSTRUCTION, AND
RENOVATION, AND ACQUISITION OF ALL LANDS, STRUCTURES,
PROPERTY, REAL OR PERSONAL, RIGHTS, RIGHTS-OF-WAY,
FRANCHISES, EASEMENTS, AND INTERESTS ACQUIRED BY—THE
MUNICIPAL CORPORATION OR TO BE ACQUIRED BY THE MUNICIPAL
CORPORATION OR ANY OTHER GOVERNMENTAL UNIT HAVING
JURISDICTION OVER THE INFRASTRUCTURE IMPROVEMENT;

(II) ALL MACHINERY AND EQUIPMENT INCLUDING
MACHINERY AND EQUIPMENT NEEDED TO EXPAND OR ENHANCE
MUNICIPAL SERVICES TO THE SPECIAL TAXING DISTRICT;

(III) FINANCING CHARGES AND INTEREST PRIOR TO AND
DURING CONSTRUCTION, AND, IF DEEMED ADVISABLE BY THE
MUNICIPAL CORPORATION, FOR A LIMITED PERIOD AFTER COMPLETION
OF THE CONSTRUCTION, INTEREST AND RESERVES FOR PRINCIPAL AND
INTEREST, INCLUDING COSTS OF MUNICIPAL BOND INSURANCE AND
ANY OTHER TYPE OF FINANCIAL GUARANTY AND COSTS OF ISSUANCE;

(IV) EXTENSIONS, ENLARGEMENTS, ADDITIONS, AND
IMPROVEMENTS;

(V) ARCHITECTURAL, ENGINEERING, FINANCIAL, AND
LEGAL SERVICES;

(VI) PLANS, SPECIFICATIONS, STUDIES, SURVEYS, AND
ESTIMATES OF COST AND OF REVENUES;

(VII) ADMINISTRATIVE EXPENSES NECESSARY OR
INCIDENT TO DETERMINING TO PROCEED WITH THE INFRASTRUCTURE
IMPROVEMENTS; AND

(VIII) OTHER EXPENSES AS MAY BE NECESSARY OR
INCIDENT TO THE CONSTRUCTION, ACQUISITION, AND FINANCING OF
THE INFRASTRUCTURE IMPROVEMENTS.

(B) (1) SUBJECT TO SUBSECTIONS (C) THROUGH (J) OF THIS
SECTION, AND FOR THE PURPOSE STATED IN PARAGRAPH (2) OF THIS
SUBSECTION, EACH MUNICIPAL CORPORATION IN THE STATE MAY:

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