HARRY HUGHES, Governor                              2379

(2) BEAR A CERTAIN DATE OR DATES;

(3) BE EXECUTED IN A CERTAIN MANNER;

(4) CONTAIN CERTAIN TERMS, COVENANTS, AND
CONDITIONS;

(5) BE IN COUPON OR REGISTERED FORM, OR BOTH;

(6) MAY MATURE. AT A CERTAIN TIME OR TIMES, BUT
NOT LATER THAN 40 YEARS FROM THEIR RESPECTIVE DATES OF
ISSUANCE;

(7) BE PAYABLE IN A CERTAIN MEDIUM OF PAYMENT;

(8) BE PAYABLE AT A CERTAIN PLACE OR PLACES;

(9) CARRY CERTAIN REGISTRATION PRIVILEGES; AND

(10) BE SUBJECT TO CERTAIN TERMS OF REDEMPTION.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second
sentence of former Article 43, § 431 and the
first clause of the third sentence of § 433.

In subsection (c)(5) of this section, the phrase
"or both" is new language added to conform to
current practice.

The Commission to Revise the Annotated Code
notes, for consideration by the General Assembly,
that there is no provision in subsection (c) of
this section for the replacement of bonds that
are lost, stolen, or destroyed.

9-807. CONTRACT WITH BONDHOLDER; COVENANTS; JUDICIAL
REMEDIES.

(A) CONTRACT WITH BONDHOLDER.

THE PROVISIONS OF THIS SUBTITLE AND ANY RESOLUTION THAT
AUTHORIZES THE ISSUANCE OF BONDS UNDER THIS SUBTITLE ARE A
CONTRACT BETWEEN THE MUNICIPALITY AND THE BONDHOLDER.

(B) COVENANTS.

THE AUTHORIZING RESOLUTION MAY CONTAIN COVENANTS AS TO:

(1) THE DISPOSITION OF THE PROCEEDS OF SALE OF
THE BONDS;

(2) THE DISPOSITION OF THE REVENUE OF THE
SEWERAGE FACILITY FOR WHICH THE BONDS ARE ISSUED, INCLUDING: