A county may borrow money and incur indebtedness through the issuance and sale of notes in anticipation of the receipt of the county’s allocation of funds from the separate account of the Bay Restoration Fund established under § 9–1605.2(h) of the Environment Article.
A county may expend the net proceeds of the sale of an issue of notes only to: (1) make grants and loans in accordance with § 9–1605.2(h)(2)(i) of the Environment Article; (2) make grants and loans to cover engineering costs and non–best–available–technology components, including drainfields, needed for the repair of existing on–site sewage disposal systems or the […]
(a) The principal of the notes may be paid from: (1) the county’s allocation of funds from the special account of the Bay Restoration Fund established under § 9–1605.2(h) of the Environment Article; and (2) any other revenues that are pledged to the payment of the notes in the authorizing resolution. (b) The interest on the notes may be […]
The authority to borrow money and issue notes granted to a county under this subtitle is: (1) supplemental to any other power granted to a county by any other law; and (2) not in derogation of any other existing power of a county to borrow money.
