Ch. 535

LAWS OF MARYLAND

(B) NOTWITHSTANDING ANY OTHER PROVISION OF PUBLIC GENERAL
OR PUBLIC LOCAL LAW, CHARTER, OR ORDINANCE REGULATING THE
CREATION OF PUBLIC DEBTS OR THE MAKING OF CONTRACTS, A LOCAL
GOVERNMENT MAY ENTER INTO A LOAN AGREEMENT WITH THE
ADMINISTRATION FOR THE PURPOSE OF FINANCING ALL OR A PORTION OF
THE COST OF A WASTEWATER FACILITY. THE EXPRESS POWERS CONTAINED
AND ENUMERATED IN ARTICLES 23A, 25A, AND 25B OF THE ANNOTATED
CODE OF MARYLAND AND IN THE CHARTER OF THE CITY OF BALTIMORE ARE
DEEMED TO INCORPORATE AND INCLUDE THE POWER AND AUTHORITY
CONTAINED IN THIS SECTION.

9-1615.

THE BONDS OF THE ADMINISTRATION, THEIR TRANSFER, THE
INTEREST PAYABLE THEREON, AND ANY INCOME DERIVED THEREFROM,
INCLUDING ANY PROFIT REALIZED IN THE SALE OR EXCHANGE THEREOF,
SHALL AT ALL TIMES BE EXEMPT FROM TAXATION OF EVERY KIND AND
NATURE WHATSOEVER BY THE STATE OF MARYLAND OR BY ANY OF ITS
POLITICAL SUBDIVISIONS, MUNICIPAL CORPORATIONS, OR PUBLIC
AGENCIES OF ANY KIND.

Part III. Miscellaneous Provisions

9-1616.

THE ADMINISTRATION SHALL NOT BE REQUIRED TO GIVE ANY BOND AS
SECURITY FOR COSTS, SUPERSEDEAS, OR ANY OTHER SECURITY IN ANY
SUIT OR ACTION BROUGHT BY OR AGAINST IT, OR IN PROCEEDINGS TO
WHICH IT MAY BE A PARTY, IN ANY COURT OF THIS STATE, AND THE
ADMINISTRATION SHALL HAVE THE REMEDIES OF APPEAL OF WHATEVER KIND
TO ALL COURTS WITHOUT BONDS, SUPERSEDEAS, OR SECURITY OF ANY
KIND. NO BUILDER'S, MATERIALMAN'S, CONTRACTOR'S, LABORER'S, OR
MECHANIC'S LIENS OF ANY KIND OR CHARACTER SHALL EVER ATTACH TO OR
BECOME A LIEN UPON THE FUND OR ANY PROPERTY, REAL OR PERSONAL,
BELONGING TO THE ADMINISTRATION AND NO ASSIGNMENT OF WAGES SHALL
BE BINDING UPON OR RECOGNIZED BY THE ADMINISTRATION.

9-1617.

(A) THE ADMINISTRATION SHALL MAKE PROVISION FOR A SYSTEM OF
FINANCIAL ACCOUNTING, CONTROLS, AUDITS, AND REPORTS. ALL
ACCOUNTING SYSTEMS AND RECORDS, AUDITING PROCEDURES AND
STANDARDS, AND FINANCIAL REPORTING SHALL CONFORM TO THE
REQUIREMENTS OF TITLE VI OF THE FEDERAL WATER POLLUTION CONTROL
ACT AND, TO THE EXTENT NOT INCONSISTENT THEREWITH, GENERALLY
ACCEPTED PRINCIPLES OF GOVERNMENTAL ACCOUNTING. AS SOON AS
PRACTICAL AFTER THE CLOSING OF THE FISCAL YEAR, AN AUDIT SHALL BE
MADE OF THE FINANCIAL BOOKS, RECORDS, AND ACCOUNTS OF THE
ADMINISTRATION. THE AUDIT SHALL BE MADE BY INDEPENDENT CERTIFIED
PUBLIC ACCOUNTANTS, SELECTED BY THE ADMINISTRATION, AND LICENSED
TO PRACTICE IN THE STATE AS AUDITORS. THE AUDITORS MAY NOT HAVE
A PERSONAL INTEREST EITHER DIRECTLY OR INDIRECTLY IN THE FISCAL
AFFAIRS OF THE ADMINISTRATION. THEY SHALL BE EXPERIENCED AND

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