HARRY HUGHES, Governor

2359

(4) IF A MAJORITY OF THE VOTES CAST ARE "FOR ...
BONDS", THE MUNICIPAL AUTHORITY-MAY ISSUE THE BONDS.

(5) IF A MAJORITY OF THE VOTES CAST ARE "AGAINST
... BONDS", THE MUNICIPAL AUTHORITY:

(I) MAY NOT ISSUE THE BONDS; BUT

(II) MAY SUBMIT THE QUESTION AT ANY LATER
REGULAR OR SPECIAL MUNICIPAL ELECTION AS PROVIDED UNDER THIS
SECTION, UNTIL A MAJORITY OF THE VOTES CAST IS "FOR ...
BONDS".                       

REVISOR'S NOTE: This section is new language derived
without substantive change from former Article
43, §§ 411 and 425.

In subsection (b)(5) of this section, the term
"municipality" is substituted for "jurisdiction",
for consistency and clarity.

In subsection (c)(2) of this section, the former
phrase "by handbills or otherwise", which
modified "notice", is deleted as unnecessary.

In subsection (c)(3) of this section, the word
"include" is substituted for "there shall be
printed or written", for conciseness.

In subsection (c)(5)(ii) of this section, the
former clause "at which time they shall exercise
the power to issue the bonds authorized by said
§§ 409-427" is deleted as unnecessary.

9-712. BONDS — TAX LEVY TO PAY INTEREST AND PRINCIPAL.

(A) LEVY.

WHILE ANY BONDS ISSUED UNDER PART II OF THIS SUBTITLE
ARE OUTSTANDING, THE MUNICIPAL AUTHORITY ANNUALLY SHALL LEVY
A TAX AGAINST ALL OF THE ASSESSABLE PROPERTY SERVED WITHIN
THE MUNICIPALITY TO PAY THE PRINCIPAL AND INTEREST ON THE
BONDS.

(B) AMOUNT AND TREATMENT.

THE TAX SHALL BE:

(1) SUFFICIENT TO PAY:

(I) WHEN DUE, THE PRINCIPAL AND INTEREST
ON THE BONDS; OR

(II) THE PART OF THE PRINCIPAL OR INTEREST