2166

LAWS OF MARYLAND

[Ch. 350

to enter into certain contracts with the Maryland
Environmental Service; providing that, for certain
purposes, these contracts will not be deemed to be
or to create a debt of the subdivision, a pledge of
its faith and credit, or a capital project; and
exempting these contracts from certain referenda and
procedures.

BY repealing and re—enacting, with amendments,

Article - Natural Resources

Section 3-123

Annotated Code of Maryland

(1974 Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 3-123 of Article - Natural
Resources, of the Annotated Code of Maryland (1974 Volume
and 1974 Supplement) be and it is hereby repealed and
re—enacted, with amendments, to read as follows:

Article - Natural Resources

3-123.

(A)  Bonds or notes issued under the provisions of
this subtitle [may not be] SHALL NOT BE DEEMED TO
CONSTITUTE OR CREATE a debt or a pledge of the faith and
credit of the State or of any political subdivision.
Every bond or note shall contain on its face a statement
to the effect that neither the Service, the State, nor
any political subdivision thereof is obligated to pay it
or the interest thereon except from revenues or other
money of the Service available therefor and that neither
the faith and credit nor the taxing power of the State or
any political subdivision is pledged to the payment of
the principal of or the interest on the bonds or notes.

(B)    NOTWITHSTANDING ANY LIMITATIONS OR OTHER
PROVISIONS TO THE CONTRARY OF ARTICLES 23A, 25A, OR 25B
OF THE ANNOTATED CODE OF MARYLAND, OR OF ANY CHARTER OR
LOCAL LAW REGULATING THE CREATION OF PUBLIC DEBTS, A
MUNICIPALITY MAY ENTER INTO CONTRACTS WITH THE SERVICE
FOR THE PURPOSE OF DEFRAYING THE SERVICE'S COSTS OF
ACQUIRING OR PROVIDING A SOLID WASTE DISPOSAL PROJECT,
WASTE-WATER PURIFICATION PROJECT, OR WATER SUPPLY
PROJECT, WHICH COSTS MAY INCLUDE DEBT SERVICE
REQUIREMENTS OF THE SERVICE RELATING TO THAT PROJECT.
THESE CONTRACTS [[MAY]] SHALL NOT BE DEEMED TO
CONSTITUTE OR CREATE A DEBT OF THE MUNICIPALITY OR A
PLEDGE OF ITS FAITH OR CREDIT WITHIN THE MEANING OF ANY
OF THESE LIMITATIONS OR OTHER PROVISIONS. SUCH A SOLID