|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROBERT L. EHRLICH, JR., Governor
|
|
|
|
|
|
Ch. 588
|
|
|
|
|
|
|
|
|
|
|
|
|
However, the ex officio member may participate in all discussions on those matters
and be present at the time of the vote. In the event of a vacancy in the position of
executive director, the ex officio seat on the council shall be taken by the interim or
permanent successor to that position. In the event that the position of executive
director of the Authority does not exist, the ex officio seat on the council shall be taken
by a person designated by the Authority. The executive director or the person
appointed by the Authority to take the ex officio seat of the executive director on the
council shall act as chairman of the council. The Maryland Agricultural Commission
shall appoint 5 members of the council. Those produce merchants who are tenants in
the produce market facility in the market shall appoint from among their number 5
members of the council. The Maryland Agricultural Commission and the produce
merchants shall determine their respective methods of appointment of members of
the council. Their successors shall be appointed for terms of 1 year from the date of
expiration of their terms of office, except that any person appointed to fill a vacancy
shall serve only for the unexpired term. Any member of the council is eligible for
reappointment. Compensation may not be paid to members of the council for
performance of their duties, but the Authority may reimburse them for actual
expenses necessarily incurred in the performance of their duties.
(c) The advisory council shall meet at least annually. All meetings of the
council shall be called by the chairman of the council by written notice to each
member at least 10 days in advance of the meeting. Five members of the council
constitute a quorum. The ex officio member of the council may not be counted for
purposes of determining the existence of a quorum. Action by the council shall be by
majority vote, each member, excluding the ex officio member, being entitled to 1 vote.
A vacancy in the council does not impair the right of a quorum to exercise all of the
rights and perform all of the duties of the council. The council may establish whatever
other rules and regulations as may be necessary for its own government.]
13-111.
(a) The Authority may provide by resolution for the issuance at one time, or in
series from time to time, of [negotiable] FEDERALLY TAX-EXEMPT OR FEDERALLY
TAXABLE revenue bonds of the Authority [in an amount not to exceed $25,000,000 in
the aggregate,] for the purpose of paying all or a part of the cost of developments or
projects, and for all other purposes set out in this subtitle. Such bonds shall be
executed in such manner as determined by the Authority.
(b) The bonds shall be dated, shall bear interest at such rate or rates, payable
semiannually, and shall mature at such time or times not exceeding 40 years from the
date or dates of their respective issues as may be determined by the Authority, and
may be made redeemable before maturity, at the option of the Authority, at such price
or prices and under such terms and conditions as may be fixed by the Authority prior
to the issuance of the bonds. The principal of and the interest on such bonds may be
made payable in any lawful medium.
(c) Revenue bonds issued under the provisions of this section shall not be
deemed to constitute a debt of the State or of any political subdivision thereof or a
pledge of the faith and credit of the State or of any such political subdivision, but the
bonds shall be payable solely from the funds herein provided therefor from
- 2791 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
