PARRIS N. GLENDENING, Governor                             Ch. 491

21A-106.

THE AUTHORITY MAY NOT BE DEEMED A MUNICIPAL CORPORATION AS
DEFINED IN ARTICLE XI-E OF THE CONSTITUTION OF MARYLAND.

21A-107.

(A)    THE AUTHORITY MAY MAKE RULES AND REGULATIONS FOR THE
OPERATION AND USE OF PROPERTY AND PROJECTS UNDER ITS JURISDICTION IN
THE MANNER PROVIDED BY LOCAL LAW.

(B)     ANY VIOLATION OF THE RULES AND REGULATIONS DULY ADOPTED BY
THE AUTHORITY IS A MISDEMEANOR AND IS PUNISHABLE BY A FINE NOT TO
EXCEED $1,000 OR IMPRISONMENT FOR NOT MORE THAN 180 DAYS OR BOTH.

21A-108.

(A)    THE AUTHORITY MAY ISSUE BONDS FOR THE PURPOSE OF FINANCING OR
REFINANCING, IN WHOLE OR IN PART, THE COST OF ANY ONE OR MORE OF THE
PROJECTS UNDERTAKEN BY THE AUTHORITY.

(B)     (1) THE BONDS:

(I)      SHALL NOT CONSTITUTE A DEBT OF THE COUNTY OR A
PLEDGE OF THE FAITH AND CREDIT OF THE COUNTY, OF THE STATE, OR OF ANY
POLITICAL SUBDIVISION OF THE STATE; AND

(II)     SHALL NOT BE CONSIDERED OBLIGATIONS OF THE COUNTY
FOR PURPOSES OF ANY DEBT LIMITATION IMPOSED ON THE COUNTY UNDER ANY
CONSTITUTIONAL, STATUTORY, OR CHARTER PROVISION.

(2) THE BONDS, THE BORROWING WHICH THEY REPRESENT, AND THE
PROJECT THE COST OF WHICH IS BEING FINANCED OR REFINANCED, ARE NOT
SUBJECT TO ANY REFERENDUM REQUIREMENTS OF THE CHARTER OF THE COUNTY.

(C)     BY RESOLUTION, THE AUTHORITY MAY DETERMINE ALL MATTERS WITH
RESPECT TO THE ISSUANCE, SALE, DELIVERY, AND PAYMENT OF THE BONDS,
INCLUDING THE ISSUE DATE OR DATES, MATURITY OR MATURITIES, INTEREST
RATE OR RATES OR MANNER OF DETERMINING THE INTEREST RATE OR RATES,
TERMS, FORM OR FORMS, DENOMINATION OR DENOMINATIONS, MANNER OF
EXECUTION, PLACE OR PLACES OF PAYMENT, SOURCE OR SOURCES OF PAYMENT,
REDEMPTION, REFUNDING, SALE PRICE, MANNER OF SALE, AND SECURITY FOR THE
BONDS.

(D) (1) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (B) OF THIS
SECTION, AND TO THE EXTENT NOT INCONSISTENT WITH ANY CONSTITUTIONAL OR
CHARTER PROVISION OR PUBLIC GENERAL LAW, ANY ISSUE OF BONDS MAY BE
GUARANTEED, IN WHOLE OR IN PART, AS TO PAYMENT OF PRINCIPAL, INTEREST, OR
ANY REDEMPTION PREMIUM, BY AND UPON THE FULL FAITH AND CREDIT OF THE
COUNTY.

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