Current with changes from the 2024 Legislative Session
Section 9-685 - Prerequisites for issuance - Determinations by sanitary commission(a) Before a district issues any bonds: (1) The sanitary commission shall make the determinations required by this section; and(2) After the sanitary commission makes the determinations, the district shall issue the bonds in accordance with the determinations.(b) The sanitary commission:(1) Shall determine the form of the bonds;(2) Shall determine the manner of execution of the bonds;(3) Shall determine the denominations of the bonds;(4) Shall determine the place, which may be any bank or trust company, where the principal and interest of the bonds will be paid;(5) Shall determine whether interest coupons will be attached to the bonds and, if so, the form of the coupons;(6) May determine whether the bonds will be issued in: (iii) Coupon form and registered form;(7) May determine whether coupon form bonds will be registered as to: (ii) Principal and interest;(8) May determine a method for reconverting into coupon form bonds any bonds that are registered as to principal and interest;(9) May determine whether the district will redeem bonds before maturity, and if so, shall specify:(i) The terms and conditions the sanitary commission will impose as to redemption before maturity; and(ii) The method the sanitary commission will use in determining the prices the district will pay to redeem bonds before maturity;(10) Shall determine any other condition, term, or provision as to the bonds that the sanitary commission is required to make under this subtitle; and(11) May determine any other condition, term, or provision as to the bonds that the sanitary commission is allowed to make under this subtitle.