HARRY HUGHES, Governor                              2333

DISTRICT AND ITS MEMBERS AND ISSUE BONDS IN THE NAME OF THE
DISTRICT TO PAY THE COST OF A PROJECT IN THE AMOUNT
ESTIMATED WHEN THE RESOLUTION AUTHORIZING THE BOND ISSUE WAS
ADOPTED.

(B) OTHER CONDITIONS OR LIMITATIONS NOT APPLICABLE.

THE ISSUANCE OF BONDS UNDER THIS SUBTITLE IS NOT
SUBJECT TO ANY CONDITION OR LIMITATION OF LAW THAT IS NOT IN
THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first, third,
and fourth clauses of the first sentence, the
first clause of the seventh sentence, and the
second clause of the twelfth sentence of former
Article 43, § 654(a).

In subsection (a) of this section, the defined
term "cost" is substituted for the language
"funds for the design, construction,
establishment, purchase or condemnation of" as
those terms were used to relate to a project.

9-683. LIMITATION ON TOTAL OF OUTSTANDING BONDS.

A DISTRICT MAY NOT ISSUE FOR A SERVICE AREA ANY BONDS
THAT, WHEN ADDED TO THE OUTSTANDING AND UNPAID BONDS ALREADY
ISSUED FOR THAT SERVICE AREA, WOULD RESULT IN A TOTAL BOND
ISSUANCE THAT EXCEEDS 25 PERCENT OF THE TOTAL VALUE OF
PROPERTY IN THE SERVICE AREA, AS ASSESSED FOR COUNTY
TAXATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last clause
of the first sentence of former Article 43, §
654(a).

9-684. ADOPTION OF RESOLUTION.

(A) RESOLUTION BY SANITARY COMMISSION.

BEFORE A DISTRICT ISSUES ANY BONDS, THE SANITARY
COMMISSION SHALL:

(1) ADOPT A RESOLUTION THAT PROPOSES THE
ISSUANCE OF THE BONDS; AND

(2) SUBMIT THE RESOLUTION TO THE GOVERNING BODY
OF EACH MEMBER COUNTY OF THE DISTRICT.

(B) APPROVAL BY MEMBER COUNTIES.

IF THE GOVERNING BODY OF EACH MEMBER COUNTY APPROVES
THE RESOLUTION, THE DISTRICT MAY ISSUE THE BONDS IN