530                                        LAWS OF MARYLAND                             [Ch. 4

MAXIMUM AMOUNT OF PRINCIPAL AND INTEREST BECOMING DUE
IN ANY SUCCEEDING CALENDAR YEAR ON ALL BONDS OF THE
SERVICE THEN OUTSTANDING AND SECURED BY THAT DEBT
SERVICE RESERVE FUND.

REVISOR'S NOTE: This subsection is new language
derived from Article 33B, section 24A (a)
of the Code.

(E) THE SERVICE SHALL NOT ISSUE BONDS AT ANY
TIME IF THE MAXIMUM AMOUNT OF PRINCIPAL AND INTEREST
BECOMING DUE IN ANY SUCCEEDING CALENDAR YEAR ON THE
BONDS OUTSTANDING AND THEN TO BE ISSUED AND SECURED BY
A DEBT SERVICE RESERVE FUND KILL EXCEED THE AMOUNT OF
THAT DEBT SERVICE RESERVE FUND AT THE TIME OF
ISSUANCE, UNLESS THE SERVICE, AT THE TIME OF THE
ISSUANCE OF THOSE BONDS, DEPOSITS IN THE DEBT SERVICE
RESERVE FUND FROM THE PROCEEDS OF THE BONDS SO TO BE
ISSUED, OR OTHERWISE, AN AMOUNT WHICH, TOGETHER WITH
THE AMOUNT THEN IN THE DEBT SERVICE RESERVE FUND, WILL
BE NOT LESS THAN THE MAXIMUM AMOUNT OF PRINCIPAL AND
INTEREST BECOMING DUE IN ANY SUCCEEDING CALENDAR YEAR
ON THE BONDS THEN TO BE ISSUED AND ON ALL OTHER BONDS
OF THE SERVICE THEN OUTSTANDING AND SECURED BY THAT
DEBT SERVICE RESERVE FUND.

REVISOR'S NOTE: This subsection is new language
derived from Article 33B, section 24A (b)
of the Code.

(C) TO ASSURE THE CONTINUED OPERATION AND
SOLVENCY OF THE SERVICE FOR CARRYING OUT THE PUBLIC
PURPOSES OF THIS SUBTITLE, PROVISION IS MADE IN
SUBSECTION (A) OF THIS SECTION FOR THE ACCUMULATION IN
EACH DEBT SERVICE RESERVE FUND OF AN AMOUNT EQUAL TO
THE MAXIMUM AMOUNT OF PRINCIPAL AND INTEREST MATURING
AND BECOMING DUE IN ANY SUCCEEDING CALENDAR YEAR AS
DETERMINED BY THE SERVICE ON ALL BONDS OF THE SERVICE
THEN OUTSTANDING AND SECURED BY THE DEBT SERVICE
RESERVE FUND. IN ORDER TO FURTHER ASSURE THE
MAINTENANCE OF DEBT SERVICE RESERVE FUNDS IN THE
RESPECTIVE AMOUNTS PROVIDED THEREFOR BY THE SERVICE IN
THE ISSUANCE OF ITS BONDS SECURED THEREBY, THESE MAY
BE APPROPRIATED ANNUALLY AND PAID TO THE SERVICE FOR
DEPOSIT IN EACH DEBT SERVICE RESERVE FUND THAT AMOUNT,
IF ANY, WHICH SHALL BE CERTIFIED BY THE DIRECTOR OF
THE SERVICE TO THE GOVERNOR AS NECESSARY TO RESTORE
THAT DEBT SERVICE RESERVE FOND TO AN AMOUNT EQUAL TO
THE MAXIMUM AMOUNT PROVIDED THEREFOR BY THE SERVICE.
THE DIRECTOR OF THE SERVICE ANNUALLY, ON OR BEFORE THE
10TH DAY OF FEBRUARY, SHALL MAKE AND DELIVER TO THE