PARRIS N. GLENDENING, Governor

Ch. 86

(d) [(1) In order to provide the District with funds to wholly or partially pay the
maturing principal of or interest on any bonds issued in accordance with this section by
the District for a project or projects in a subdistrict, the county, when requested by the
Commission, shall levy annually upon all property subject to unlimited county taxation in
that subdistrict an ad valorem tax in a rate and amount sufficient to provide the funds
needed by the Commission for such purpose.

(2)] In the event that the funds available to the [District] COUNTY from' all
sources are insufficient to pay any bonds issued under this section, together with the
interest due thereon, the county, in each and every fiscal year in which bonds are
outstanding, shall levy and collect ad valorem taxes upon all the legally assessable
property within the [corporated] CORPORATE limits of Washington County at a rate
and in an amount sufficient to provide for such payments when due, together with
accrued interest to the date of payment. In the event the proceeds from the taxes so
levied in any fiscal year are inadequate for the above purposes, the county shall levy
additional taxes in the succeeding fiscal year to make up any deficiency.

6-402.

(a)     For the purpose of financing, in whole or in part, the cost of a project or
projects in one or more subdistricts, the [District] COUNTY, in addition to the authority
and power conferred by § 6-401 of this subtitle, may borrow money in whatever amount
is needed for that purpose. The [District] COUNTY may evidence its borrowing by the
issuance and sale of its negotiable revenue bonds. Principal and interest shall be made
solely from the proceeds of special benefit assessments and other charges imposed and
made by the [District] COUNTY on the project or projects financed with the proceeds of
the bonds, which revenues the [District] COUNTY may pledge to their payment. The
[Commission] COUNTY may fix and determine the form and tenor of the revenue bonds,
their denominations, the rate or rates of interest payable on them, the place or places for
payment, and the method of sale, all as provided in § 6-401 of this subtitle. The amount
of the revenue bonds issued by the [District] COUNTY may not exceed the cost of the
project or projects being financed.

(b)     Payment of principal and interest may not [be guaranteed by] CONSTITUTE
AN OBLIGATION OF, OR A PLEDGE OF THE FAITH AND CREDIT OF, the County but, on
the contrary, the bonds shall recite that their principal and interest are payable solely
from the prescribed revenues or in the resolution or trust indenture authorizing them.

(c)     The [District] COUNTY may secure any revenue bonds issued under this
section by an appropriate trust indenture by and between the [District] COUNTY and a
corporate trustee, which may be any trust company, or bank having trust powers, within or
outside the State. Every such trust indenture, and revenue bonds secured thereby, shall
clearly recite that the bonds are obligations of the [District] COUNTY, payable solely
from its revenues, and do not constitute obligations of the County or of the State of
Maryland. A trust indenture may contain covenants on the part of the [District]
COUNTY, not contrary to law, deemed necessary or appropriate by the [Commission]
COUNTY for the proper security of the purchasers of the bonds. The [District] COUNTY

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