HARRY HUGHES, Governor

1833

EACH AUTHORITY SHALL:

(1)  KEEP A COMPLETE RECORD OF ITS RECEIPTS AND
EXPENDITURES;

(2)  EMPLOY A CERTIFIED PUBLIC ACCOUNTANT TO AUDIT ITS
BOOKS AND ACCOUNTS;

(3)  KEEP A DETAILED AUDIT AND FINANCIAL STATEMENT OF
ITS ACCOUNTS AVAILABLE AND OPEN FOR PUBLIC INSPECTION AT ITS
PRINCIPAL OFFICE DURING BUSINESS HOURS; AND

(4)  FILE ANNUALLY A CERTIFIED COPY OF THE DETAILED
AUDIT AND FINANCIAL STATEMENT WITH THE GOVERNING BODY OF EACH
MEMBER POLITICAL SUBDIVISION.

(B) EXAMINATION AND AUDIT OF BOOKS AND RECORDS.

(1)  IN PERSON OR BY AUTHORIZED AGENTS, THE GOVERNING
BODY OF ANY MEMBER POLITICAL SUBDIVISION MAY EXAMINE AND AUDIT
THE BOOKS AND RECORDS OF THE AUTHORITY.

(2)  AN EXAMINATION OR AUDIT UNDER THIS SUBSECTION IS
WITHOUT COST TO THE AUTHORITY.

REVISOR'S NOTE: This section is new language derived
without substantive change from former HE §
9-905(2)(iv).

9-926. RESERVED.

9-927. RESERVED.

PART IV. BONDS OF AUTHORITIES.

9-928. PURPOSE OF BONDS.

AN AUTHORITY MAY ISSUE ITS BONDS TO PAY ANY PART OF THE COST
OF A PROJECT OF THE AUTHORITY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last clause of the
first sentence of former HE § 9-908(a).

9-929. NONAPPLICABILITY OF OTHER LAWS.

(A)  BONDS.

THE ISSUANCE OF A BOND UNDER THIS SUBTITLE IS NOT SUBJECT TO
CONDITIONS OR LIMITATIONS IN ANY OTHER LAW OF THIS STATE.

(B)  REFUNDING BONDS.

SECTIONS 8-201, 8-206, AND 8-208 OF THE STATE FINANCE AND
PROCUREMENT ARTICLE DO NOT APPLY TO ANY REFUNDING BOND ISSUED
UNDER THIS SUBTITLE.