HARRY HUGHES, Governor

2387

(A)  PURPOSE.

ANY MUNICIPALITY MAY ISSUE REFUNDING BONDS TO REFUND,
PAY, OR DISCHARGE THE PRINCIPAL AND INTEREST ON ALL OR ANY
PART OF THE OUTSTANDING BONDS:

(1) ISSUED BY THE MUNICIPALITY TO FINANCE THE
DEVELOPMENT OF ALL OR PART OF THE SEWERAGE FACILITY; AND

(2) IN ARREARS OR ABOUT TO BECOME DUE.

(B)  BOND PROVISIONS APPLICABLE.

THE PROVISIONS OF THIS SUBTITLE THAT CONCERN
AUTHORIZATION AND ISSUANCE OF BONDS APPLY TO AUTHORIZATION
AND ISSUANCE OF REFUNDING BONDS.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Article
43, § 438.

In subsection (a)(1) of this section, the defined
term "development" is substituted for
"acquisition or construction" for conformity to
other provisions of this subtitle.

In subsection (b) of this section, the former
phrase "including their terms and security, the
bond resolution, rates, and other aspects of the
bond" is deleted as unnecessary.

Throughout this section, the term "revenue" is
deleted to conform to actual practice.

9-814. SHORT TITLE.

THIS SUBTITLE MAY BE CITED AS "THE SEWERAGE FACILITIES
BOND ACT".

REVISOR'S NOTE: This section is new language derived
without substantive change from former Article
43, § 444.

The term "sewerage" is substituted for "sanitary"
to conform to the terminology used throughout
this subtitle.

GENERAL REVISOR'S NOTE:

Former Article 43, § 443, which provided for the
severability of the provisions of this subtitle, is deleted
as unnecessary in light of Article 1, § 23 of the Code.

SUBTITLE 9. WATER AND SEWER AUTHORITIES.