2380

LAWS OF MARYLAND

Ch. 240

(I) THE PLEDGING TO THE PUNCTUAL PAYMENT
OF THE BONDS ISSUED UNDER THIS SUBTITLE AND OF THE INTEREST
ON THOSE BONDS AS THEY BECOME DUE AN AMOUNT SUFFICIENT TO
PAY THE BONDS AND INTEREST ON AN EQUAL OR PRIORITY BASIS
FROM ALL OR PART OF THE REVENUE OF ALL OR PART OF THE
EXISTING OR PLANNED SEWERAGE FACILITY; AND

(II) THE CREATION AND MAINTENANCE OF
REASONABLE RESERVES, FROM ALL OR PART OF THE REVENUE, FOR
THE PAYMENT OF THE BONDS ISSUED UNDER THIS SUBTITLE AND OF
THE INTEREST ON THOSE BONDS;

(3) THE ISSUANCE OF ADDITIONAL BONDS PAYABLE
FROM THE REVENUE OF THE SEWERAGE FACILITY;

(4) THE TRANSFER FROM THE GENERAL FUNDS OF THE
MUNICIPALITY TO THE ACCOUNT OF THE SEWERAGE FACILITY OF AN
AMOUNT EQUAL TO THE COST OF PROVIDING THE MUNICIPALITY OR
ANY OF ITS DEPARTMENTS, BOARDS, OR AGENCIES WITH THE
SERVICES, FACILITIES, AND COMMODITIES OF THE SEWERAGE
FACILITY;

(5) THE INSURANCE TO BE CARRIED ON THE SEWERAGE
FACILITY AND THE DISPOSITION OF INSURANCE MONEY;

(6) THE OPERATION AND MAINTENANCE OF THE
SEWERAGE FACILITY;

(7) THE BOOKS OF ACCOUNT OF THE SEWERAGE
FACILITY AND THE INSPECTION AND AUDIT OF THE BOOKS; AND

(8) THE TERMS AND CONDITIONS ON WHICH THE
BONDHOLDERS OR ANY TRUSTEE FOR THE BONDHOLDERS MAY PETITION
THE CIRCUIT COURT FOR THE APPOINTMENT OF A RECEIVER FOR THE
SEWERAGE FACILITY.

(C) JUDICIAL REMEDIES.

(1) ON PETITION OF THE BONDHOLDERS OR A TRUSTEE
FOR THE BONDHOLDERS, THE CIRCUIT COURT MAY APPOINT FOR A
SEWERAGE FACILITY A RECEIVER WHO MAY:

(I) ENTER AND TAKE POSSESSION OF THE
SEWERAGE FACILITY;

(II) OPERATE AND MAINTAIN THE SEWERAGE
FACILITY;

(III) SET SEWERAGE FACILITY RATES, FEES,
OR CHARGES; AND

(IV) COLLECT, RECEIVE, AND APPLY ALL
REVENUE OF THE SEWERAGE FACILITY.