Ch. 196                                     1993 LAWS OF MARYLAND

required by this subtitle, or in the resolution authorizing the issuance of the bonds or
notes, or by the trust agreement, to be performed by the Service, or by any officer thereof,
including the fixing, charging, and collecting of rentals and other rates, fees, and charges
for the use of the projects.

3-121.

. Bonds and notes issued under this subtitle are securities in which all public officers
and public units of the State and its political subdivisions and all banks, trust companies,
savings and loan associations, investment companies, and others carrying on a banking
business, all insurance companies, insurance associations, and others carrying on an
insurance business, all personal representatives, guardians, trustees, and other
fiduciaries, and all other persons may legally and properly invest funds, including capital
in their control or belonging to them. The bonds and notes are securities which may
properly and. legally be deposited with and received by any State or municipal officer or
any unit or political subdivision of the State for any purpose for which the deposit of
bonds or other obligations of the State is authorized by law.

3-122.

(a)     Bonds or note's issued under the provisions of this subtitle shall not be deemed
to constitute or create a debt or a pledge of the faith and credit of the State or of any
political subdivision. Every bond or note shall contain on its face a statement to the effect
that neither the Service, the State, nor any political subdivision thereof is obligated to pay
it or the interest thereon except from revenues or other money of the Service available
therefor and that neither the faith and credit nor the taxing power of the State or any
political subdivision is pledged to the payment of the principal of or the interest on the
bonds or notes. However, this subsection does not limit the ability of the State or a
political subdivision to set, impose; or collect an assessment, rate, fee, or charge to pay to
the Service the cost of a project, including the principal of and interest on a bond or note,
under an agreement between the Service and the State or political subdivision.

(b)     (1) Notwithstanding any limitations or other provisions to the contrary of
Articles 23A, 25A, or 25B of the Annotated Code of Maryland, or of any charter or local
law regulating the creation of public debts, a municipality may enter into contracts with
the Service for the purpose of defraying the Service's costs of acquiring or providing a
solid waste disposal project, wastewater purification project, or water supply project,
which costs may include debt service requirements of the service relating to that project.
These contracts shall not be deemed to constitute or create a debt of the municipality or
a pledge of its faith or credit within the meaning of any of these limitations or other
provisions. Such a solid waste disposal project, wastewater purification project, or water
supply project may not be deemed to be a capital project of the municipality within the
meaning of any of these limitations or other provisions, and a resolution, ordinance, or
other official action authorizing such contracts is not subject to referendum or other
procedure not applicable to all ordinances or resolutions enacted by the municipality. For
the purposes of this subsection, 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 subsection.

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