HARRY HUGHES, Governor

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(II) PRINCIPAL AND INTEREST;

(8) MAY DETERMINE A METHOD FOR RECONVERTING INTO
COUPON FORM BONDS ANY BONDS THAT ARE REGISTERED AS TO
PRINCIPAL AND INTEREST;

(9) MAY DETERMINE WHETHER THE DISTRICT WILL
REDEEM BONDS BEFORE MATURITY, AND IF SO, SHALL SPECIFY:

(I) THE TERMS AND CONDITIONS THE SANITARY
COMMISSION WILL IMPOSE AS TO REDEMPTION BEFORE MATURITY; AND

(II) THE METHOD THE SANITARY COMMISSION
WILL USE IN DETERMINING THE PRICES THE DISTRICT WILL PAY TO
REDEEM BONDS BEFORE MATURITY;

(10) SHALL DETERMINE ANY OTHER CONDITION, TERM,
OR PROVISION AS TO THE BONDS THAT THE SANITARY COMMISSION IS
REQUIRED TO MAKE UNDER THIS SUBTITLE; AND

(11) MAY DETERMINE ANY OTHER CONDITION, TERM, OR
PROVISION AS TO THE BONDS THAT THE SANITARY COMMISSION IS
ALLOWED TO MAKE UNDER THIS SUBTITLE.

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

9-686. REQUIRED CONTENTS OF BONDS.

BONDS ISSUED UNDER THIS SUBTITLE SHALL:

(1) BE DATED;

(2) BEAR INTEREST AT THE RATE OR RATES THAT THE
SANITARY COMMISSION DETERMINES;

(3) BEAR THE SEAL OF THE DISTRICT;

(4) BE SIGNED FOR THE DISTRICT;

(5) BEAR MATURITY DATES THAT:

(I) ARE DETERMINED BY THE SANITARY
COMMISSION; AND

(II) ARE NOT MORE THAN 40 YEARS FROM THE
DATE OF ISSUE; AND

(6) SUBJECT TO THE LIMITATION ON LIABILITY OF
EACH MEMBER COUNTY OF A MULTIPLE COUNTY DISTRICT UNDER §
9-696 OF THIS SUBTITLE, BE ENDORSED BY EACH MEMBER COUNTY AS
FOLLOWS: "THE PAYMENT OF INTEREST WHEN DUE AND THE