§ 22-107

Maryland § 22-107

• Jurisdiction: Maryland
• Article glg: Local Government
• Title: 22

Text

(a) For each issue of its bonds, a Resilience Authority shall adopt a resolution that:

(1) specifies and describes the resilience infrastructure;

(2) generally describes the public purpose to be served and the financing transaction;

(3) specifies the maximum principal amount of the bonds that may be issued; and

(4) imposes terms or conditions on the issuance and sale of bonds it considers appropriate.

(b) A Resilience Authority, by resolution, may:

(1) specify, determine, prescribe, and approve matters, documents, and procedures that relate to the authorization, sale, security, issuance, delivery, and payment of and for the bonds;

(2) create security for the bonds;

(3) provide for the administration of bond issues through trust or other agreements with a bank or trust company that cover a countersignature on a bond, the delivery of a bond, or the security for a bond; and

(4) take other action it considers appropriate concerning the bonds.