PARRIS N. GLENDENING, Governor                             Ch. 302

(J) THE RECREATIONAL FACILITIES REVENUE AUTHORITY ESTABLISHED BY
THE COUNTY MAY ISSUE REVENUE BONDS, NOTES, OR OTHER EVIDENCES OF
INDEBTEDNESS ON BEHALF OF THE COUNTY FOR PUBLIC RECREATIONAL PURPOSES
OF THE AUTHORITY.

(K) (1) THE REVENUE BONDS, NOTES, OR OTHER EVIDENCES OF
INDEBTEDNESS ISSUED UNDER THE PROVISIONS OF THIS SECTION MAY NOT BE
DEEMED TO CONSTITUTE A DEBT OF THE COUNTY OR A PLEDGE OF THE FAITH AND
CREDIT OF THE COUNTY OR OF THE STATE OF MARYLAND OR ANY POLITICAL
SUBDIVISION OF THE STATE OF MARYLAND.

(2)     THE REVENUE BONDS, NOTES, OR OTHER EVIDENCES OF
INDEBTEDNESS SHALL BE PAYABLE FROM THE FUNDS OF THE RECREATIONAL
FACILITIES REVENUE AUTHORITY PROVIDED FROM REVENUES OF THE PROJECT OR
PROJECTS OF THE AUTHORITY.

(3)     ALL REVENUE BONDS SHALL CONTAIN A STATEMENT ON THEIR
FACE TO THE EFFECT THAT THE FULL FAITH AND CREDIT OF THE STATE, COUNTY,
OR ANY OTHER POLITICAL SUBDIVISION OF THE STATE IS NOT PLEDGED TO PAY
BONDS OR THE INTEREST THEREON.

(4)     EXCEPT AS OTHERWISE PROVIDED IN PARAGRAPH (5) OF THIS
SUBSECTION, THE ISSUANCE OF THE REVENUE BONDS, CERTIFICATES, OR OTHER
EVIDENCES OF INDEBTEDNESS UNDER THE PROVISIONS OF THIS SECTION MAY NOT
DIRECTLY, INDIRECTLY, OR CONTINGENTLY OBLIGATE THE COUNTY TO LEVY OR
PLEDGE ANY FORM OF TAXATION OR ANY APPROPRIATION FOR THEIR PAYMENT.

(5)     THE COUNTY EXECUTIVE MAY, WITH THE APPROVAL OF THE
COUNTY COUNCIL, COLLATERALLY AGREE TO PROVIDE SUFFICIENT MONEYS FROM
THE GENERAL FUND OF THE COUNTY TO PAY ANY DEFICIENCY IN THE DEBT
SERVICE REQUIREMENTS OF SUCH BONDS FOR ANY YEAR IN WHICH THERE IS A
DEFICIT.

(6)     AN ADVANCE OF MONEYS FROM THE GENERAL FUND OF THE
COUNTY SHALL BE REPAID FROM THE RECEIPTS, RENTALS, OR REVENUES OF THE
RECREATIONAL FACILITIES REVENUE AUTHORITY IN THE NEXT SUCCEEDING YEAR
IN WHICH SUCH RECEIPTS, RENTALS, OR REVENUES EXCEED DEBT SERVICE
REQUIREMENTS AND OPERATING EXPENSES.

(7)     AN ADVANCE OF MONEYS FROM THE GENERAL FUND OF THE
COUNTY UNDER ANY AGREEMENT OR AGREEMENTS SHALL NOT EXCEED, BUT
SHALL BE LIMITED AND RESTRICTED TO, A MAXIMUM AMOUNT ESTABLISHED BY
LOCAL LEGISLATION, OR IN THE ABSENCE OF LOCAL LEGISLATION, A MAXIMUM
PAYMENT BY THE COUNTY OF $25,000.00 FOR ANY ONE FISCAL YEAR.

(L) (1) REVENUE BONDS ISSUED BY THE RECREATIONAL FACILITIES
REVENUE AUTHORITY AUTHORIZED BY THIS SECTION ARE HEREBY MADE
SECURITIES IN WHICH ALL PUBLIC OFFICERS AND PUBLIC AGENCIES 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 AND INSURANCE ASSOCIATIONS

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