HARRY HUGHES, Governor                              2295

AT THE HEARING, THE SANITARY COMMISSION SHALL PROVIDE A
REPORT OF:

(1) THE LATEST ESTIMATE OF THE COST OF CREATING
THE PROPOSED SERVICE AREA;

(2) THE LATEST ESTIMATE OF THE COST OF PROVIDING
FACILITIES IN THE PROPOSED SERVICE AREA; AND

(3) HOW MUCH OF THE COST WILL BE FUNDED BY
ISSUING BONDS UNDER THIS SUBTITLE.

(M) BASIS OF DECISION BY SANITARY COMMISSION.

IN DECIDING ON A PETITION PRESENTED UNDER THIS SECTION,
THE SANITARY COMMISSION SHALL CONSIDER:

(1) THE STANDARDS REQUIRED UNDER § 9-647 OF THIS
SUBTITLE; AND

(2) WHETHER GRANTING THE PETITION WOULD REQUIRE
A BOND ISSUANCE THAT IS EXCESSIVE UNDER SUBSECTION (N) OF
THIS SECTION.

(N) EXCESSIVE BOND ISSUANCE.

A BOND ISSUANCE IS EXCESSIVE IF:

(1) THE BOND ISSUANCE IS FOR FUNDING A PROPOSED
SERVICE AREA; AND

(2) AFTER THE BOND ISSUANCE, THE UNAMORTIZED
BALANCE OF BONDS ISSUED FOR THE PROPOSED SERVICE AREA WOULD
EXCEED 25 PERCENT OF THE TOTAL VALUE OF PROPERTY IN THE
SERVICE AREA, AS ASSESSED FOR COUNTY TAXATION.

(O) GROUNDS FOR DENIAL.

THE SANITARY COMMISSION SHALL DENY THE PETITION IF:

(1) GRANTING THE PETITION WOULD VIOLATE THE
STANDARDS OF § 9-647 OF THIS SUBTITLE; OR

(2) GRANTING THE PETITION WOULD REQUIRE A BOND
ISSUANCE THAT IS EXCESSIVE UNDER SUBSECTION (N) OF THIS
SECTION.

(P) ORDER; PUBLICATION.

THE SANITARY COMMISSION SHALL:

(1) ISSUE AN ORDER THAT DENIES, GRANTS, OR
MODIFIES THE PETITION; AND

(2) PUBLISH ITS ORDER IN EACH MEMBER COUNTY