HARRY HUGHES, Governor                              2401

Section 3 of Ch.___, Acts of 1982, which enacted

this article.

The only other changes are in style.

9-907. POWERS NOT TO BE EXERCISED TO DUPLICATE OR COMPETE
WITH EXISTING UTILITIES.

(A)  COMPETING WITH UTILITIES.

NONE OF THE POWERS GRANTED BY THIS SUBTITLE MAY BE
EXERCISED IN THE CONSTRUCTION, IMPROVEMENT; MAINTENANCE,
EXTENSION, OR OPERATION OF ANY PROJECT THAT IN WHOLE OR IN
PART DUPLICATES OR COMPETES WITH EXISTING UTILITIES, PUBLIC
OR PRIVATE, SERVING SUBSTANTIALLY THE SAME PURPOSES. THE
MUNICIPALITY OR MUNICIPALITIES ORGANIZING AN AUTHORITY MAY,
IN THE RESOLUTION OR ORDINANCE SIGNIFYING THEIR INTENTION SO
TO DO, OR FROM TIME TO TIME BY SUBSEQUENT RESOLUTION OR
ORDINANCE, SPECIFY THE PROJECT OR PROJECTS TO BE UNDERTAKEN
BY THE AUTHORITY, AND NO PROJECTS MAY BE UNDERTAKEN BY THE
AUTHORITY OTHER THAN THOSE SO SPECIFIED. IF THE
MUNICIPALITY OR MUNICIPALITIES ORGANIZING AN AUTHORITY FAIL
TO SPECIFY THE PROJECT OR PROJECTS TO BE UNDERTAKEN, THEN
THE AUTHORITY HAS ALL THE POWERS GRANTED BY THIS SUBTITLE.

(B)  ONLY 1 AUTHORITY.

A MUNICIPALITY THAT HAS CREATED AN AUTHORITY UNDER THE
PROVISIONS OF THIS SUBTITLE MAY NOT CREATE ANY OTHER
AUTHORITY SERVING THE WHOLE OR ANY PART OF THE SAME AREA. A
MUNICIPALITY THAT HAS JOINED WITH ANY OTHER MUNICIPALITY OR
MUNICIPALITIES IN THE: CREATION OF AN AUTHORITY UNDER THE
PROVISIONS OF THIS SUBTITLE MAY NOT CREATE OR JOIN IN THE
CREATION OF ANY OTHER AUTHORITY UNLESS THE OTHER
MUNICIPALITY OR MUNICIPALITIES CONSENT THERETO BY ORDINANCE
OR RESOLUTION.

REVISOR'S NOTE: This section formerly appeared as
Article 43, § 451.

The only changes are in style.

9-908. REVENUE BONDS OF AUTHORITY.

(A) DETAILS; EFFECT OF ISSUANCE.

EACH AUTHORITY CREATED UNDER THIS SUBTITLE MAY PROVIDE
BY RESOLUTION OF ITS BOARD, AT 1 TIME OR FROM TIME TO TIME,
FOR THE ISSUANCE OF REVENUE BONDS OF THE AUTHORITY FOR THE
PURPOSE OF PAYING THE WHOLE OR ANY PART OF THE COST OF ANY
PROJECT. THE PRINCIPAL OF AND THE INTEREST ON THESE BONDS
SHALL BE PAYABLE SOLELY FROM, THE FUNDS HEREIN PROVIDED FOR
THIS PAYMENT. THE BONDS OF EACH ISSUE SHALL BE DATED, SHALL
MATURE AT SUCH TIME OR TIMES NOT EXCEEDING FORTY YEARS FROM
THEIR DATE OR DATES AS MAY BE DETERMINED BY THE AUTHORITY,