WILLIAM DONALD SCHAEFER, Governor                         S.B. 893

(2)     WITHIN 30 DAYS OF RECEIPT OF THE ACCOUNTING, THE SECRETARY
MAY REQUEST THAT THE SERVICE PROVIDE ADDITIONAL INFORMATION.

(3)     WITHIN 90 DAYS OF RECEIPT OF THE ACCOUNTING OR, WHEN
APPLICABLE, THE ADDITIONAL INFORMATION, THE STATE SHALL PAY TO THE
SERVICE THE FULL AMOUNT OF THE SERVICE'S COSTS THAT ARE NOT PAID OR
REASONABLY EXPECTED TO BE PAID BY THE PERSONS.

(4)     (I) THE STATE'S PAYMENT OF ANY AMOUNT TO THE SERVICE
DOES NOT PRECLUDE THE STATE FROM SEEKING OR OBTAINING REIMBURSEMENT
FROM THE MUNICIPALITY OR PERSONS SUBJECT TO THE ORDER OF THE
SECRETARY.

(II) THE SERVICE SHALL COOPERATE FULLY WITH THE
SECRETARY IN SEEKING REIMBURSEMENT FROM THE MUNICIPALITY OR PERSONS.

3-111.

Except as provided in § 3-104 of this subtitle, or in an approved five-year plan
adopted under this subtitle, it is unlawful for a municipality or person provided with any
projects by the Service under this subtitle to duplicate or use any other similar projects
serving the same purpose unless the Service expressly permits it to do so.

3-112.

(a)     The Service may provide by resolution, adopted by a majority of the board [of
directors], for the issuance of bonds and notes of the Service.

(b)     The board [of directors have] HAS absolute discretion to determine with
respect to the bonds or notes of any issue: (1) the date or dates of issue; (2) the date or
dates and amount or amounts or maturity, provided only that no bond of any issue may
mature later than 40 years from the date of its issue; (3) the rate or rates of interest
payable thereon and the date or dates of such payment; (4) the form or forms,
denomination or denominations, manner of execution and the place or places of payment
thereof, and the interest thereon, which may be at any bank or trust company within or
without the State; (5) whether the bonds or notes or any part thereof are made
redeemable before maturity and, if so, upon what terms, conditions, and prices; (6)
whether there shall be a debt service reserve fund and, if so, its amount; and (7) any other
matter relating to the form, terms, conditions, issuance, and sale thereof.

3-113.

(a)     If any officer whose signature or a facsimile of whose signature appears on any
bonds or coupons or notes ceases to be the officer before the delivery of the bonds or
notes, the signature or facsimile is nevertheless valid and sufficient for all purposes as if
he had remained in office until delivery.

(b)     Notwithstanding any other provision of this title or any recitals in any bonds
and notes issued hereunder, all bonds and notes shall be deemed to be negotiable
instruments under the laws of the State.

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