- (a) Each person who has a duty to act in the payment of principal and interest on bonds issued under this subtitle shall perform promptly the act that is required.
(b)
- (1) Before a series of bonds is issued under this subtitle, the governing body of each member county that will be affected by the series shall advance to the district not more than $25,000.
- (2) From the first proceeds available from the sale of the bonds, the district shall repay the advances made by the member counties.
- (c) Unless the approval is required under this subtitle, a district is not required to obtain the approval of any entity before it issues bonds.
- (d) The provisions of §§ 19-205 and 19-206 of the Local Government Article do not apply to bonds issued under this subtitle.
Added by Acts 1982, c. 240, § 2. Amended by Acts Acts 2013, c. 136, § 1, eff. Oct. 1, 2013.
Formerly Art. 43, §§ 654, 658.