WILLIAM DONALD SCHAEFER, Governor                            Ch. 539

(C)      THE DEPARTMENT MAY PLEDGE OR ASSIGN ALL OR A PORTION OF ITS
RIGHTS UNDER AGREEMENTS MADE PURSUANT TO THIS SECTION TO GUARANTEE
REPAYMENT OF BONDS.

(D)     (1) NOTWITHSTANDING ANY OTHER PROVISION OF PUBLIC GENERAL
OF PUBLIC LOCAL LAW, CHARTER, OR ORDINANCE, IN ORDER TO ENHANCE THE
SECURITY OR THE MARKETABILITY OF THE BONDS, A COUNTY MAY AGREE WITH
THE DEPARTMENT TO PLEDGE ANY MONEYS THAT THE COUNTY IS ENTITLED TO
RECEIVE FROM THE STATE, INCLUDING WITHOUT LIMITATION THE COUNTY'S
SHARE OF HIGHWAY USER REVENUES, BUT A COUNTY MAY NOT PLEDGE MONEYS
THAT ARE PLEDGED OR DEDICATED TO ANOTHER PURPOSE BY STATE LAW.

(2) IN THE EVENT OF SUCH PLEDGE, THE STATE COMPTROLLER AND
THE STATE TREASURER MAY CAUSE IN ACCORDANCE WITH THE TERMS OF SUCH
AGREEMENT SUCH MONEYS TO BE PAID TO THE DEPARTMENT OR ANY TRUSTEE
DESIGNATED BY THE DEPARTMENT.

(E) THE DEPARTMENT MAY PROVIDE IN AN AGREEMENT UNDER THIS
SECTION THAT THE PARTICIPATING COUNTIES SHALL PAY THE DEPARTMENT A FEE
FOR THE DEPARTMENT'S COSTS OF ADMINISTERING THE PROGRAM ESTABLISHED
UNDER THIS SUBTITLE.

3-518.

(A)     COUNTIES MAY BORROW THE PROCEEDS OF BONDS ISSUED UNDER THIS
SUBTITLE AND ENTER INTO AGREEMENTS WITH THE DEPARTMENT EVIDENCING
THE COUNTIES' OBLIGATION TO REPAY SUCH LOANS, PURSUANT TO SUCH TERMS
AND CONDITIONS AS THE DEPARTMENT AND THE COUNTIES DEEM APPROPRIATE.

(B)      A COUNTY MAY ENTER INTO ANY AGREEMENT NECESSARY OR
APPROPRIATE TO ALLOW IT TO PARTICIPATE IN A BOND ISSUE UNDER THIS
SUBTITLE.

(C)      AN AGREEMENT AUTHORIZED BY THIS SUBSECTION MAY HAVE SUCH
PROVISIONS, TERMS, AND CONDITIONS, AND MAY BE OF SUCH DURATION, AS THE
COUNTY BY ORDINANCE OR RESOLUTION MAY DETERMINE.

(D)     EXCEPT AS PROVIDED IN PARAGRAPH (F) OF THIS SECTION, ANY
PAYMENT OBLIGATION IN AN AGREEMENT AUTHORIZED BY THIS SECTION MAY BE
EITHER:

(1)      A GENERAL OBLIGATION OF THE COUNTY TO WHICH ITS FULL
FAITH AND CREDIT AND UNLIMITED TAXING POWER IS PLEDGED AND WHICH MAY
NOT BE SUBJECT TO ANNUAL APPROPRIATION BY THE COUNTY; OR

(2)      ANY OTHER OBLIGATION WHICH THE COUNTY IS AUTHORIZED TO
UNDERTAKE.

(E)      A PAYMENT OBLIGATION IN AN AGREEMENT AUTHORIZED BY THIS
SECTION MAY BE UNDERTAKEN BY A COUNTY PURSUANT TO AND WITHIN THE
LIMITATIONS OF THIS SUBSECTION:

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