WILLIAM DONALD SCHAEFER, Governor

Ch. 523

6-208.

(A)     (1) THE COMPTROLLER SHALL KEEP A COMPLETE RECORD OF THE
DISTRICT'S RECEIPTS, EXPENSES, AND EXPENDITURES.

(2)      THE BOOKS AND ACCOUNTS SHALL BE KEPT SO AS TO REFLECT
RECEIPTS AND DISBURSEMENTS SEPARATED BY SUBDISTRICT.

(3)      THE DISBURSEMENTS OF A SUBDISTRICT SHALL BE
INDEPENDENTLY SUPPORTED BY THE RECEIPTS OF THE SUBDISTRICT WITHOUT
CONTRIBUTION FROM ANY OTHER SUBDISTRICT.

(4)      THE COMPTROLLER MAY:

(I)       COMBINE FUNDS RECEIVED FROM DIFFERENT SUBDISTRICTS
INTO THE SAME BANK ACCOUNT; OR

(II)     LOAN FUNDS HELD ON BEHALF OF ONE SUBDISTRICT TO A
DIFFERENT SUBDISTRICT IF INTEREST, ADJUSTED ON THE FIRST DAY OF EACH
MONTH, IS PAID AT A RATE EQUAL TO 80 PERCENT OF THE PREVAILING WALL
STREET JOURNAL PRIME INTEREST RATE OR A SIMILAR PRIME INTEREST RATE, IF
THE WALL STREET JOURNAL CEASES PUBLICATION OF A PRIME INTEREST RATE.

(B)      (1) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION OR ANY
OTHER PROVISION OF THIS TITLE, THE DISTRICT, FOLLOWING A PUBLIC HEARING,
MAY COMBINE THE ASSETS, INCLUDING FUNDS, RECEIPTS, AND EXPENDITURES
FROM ALL SEWER SUBDISTRICTS, AND ADOPT RATES WHICH ARE THE SAME FOR
EACH SEWER SUBDISTRICT.

(2) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION OR ANY
OTHER PROVISION OF THIS TITLE, THE DISTRICT, FOLLOWING A PUBLIC HEARING,
MAY COMBINE THE ASSETS, INCLUDING FUNDS, RECEIPTS, AND EXPENDITURES
FROM ALL WATER SUBDISTRICTS, AND ADOPT RATES WHICH ARE THE SAME FOR
EACH WATER SUBDISTRICT.

(C)      THE DISTRICT SHALL APPOINT AN INDEPENDENT CERTIFIED PUBLIC
ACCOUNTANT TO ANNUALLY AUDIT ITS BOOKS AND ACCOUNTS.

(D)     (1) THE DISTRICT SHALL ANNUALLY FILE WITH THE COUNTY A
CERTIFIED COPY OF THE DETAILED AUDIT REQUIRED UNDER SUBSECTION (C) OF
THIS SECTION AND OF ANY OTHER FINANCIAL STATEMENTS.

(2) AT ITS OWN EXPENSE, THE COUNTY MAY AT ANY TIME CAUSE A
SEPARATE AUDIT AND EXAMINATION TO BE MADE OF THE BOOKS AND RECORDS
OF THE DISTRICT.

6-209.

(A) (1) THE DISTRICT IS NOT REQUIRED TO PAY ANY TAXES OR
ASSESSMENT ON ANY PROJECT ACQUIRED, CONSTRUCTED, OR OPERATED UNDER
THE PROVISIONS OF THIS TITLE OR ON THE INCOME FROM IT.

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