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§ 9-640. Short term borrowing

MD Env Code § 9-640 (2019) (N/A)
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(a)    In this section, “governmental agency” means:

(1)    The federal government;

(2)    This State; or

(3)    An agency or instrumentality of the federal government or this State.

(b)    A district may borrow from a governmental agency the amount of money that the sanitary commission considers necessary to pay the organization and planning costs for a project or a service area, including costs for:

(1)    Engineering services;

(2)    Legal services;

(3)    Estimates of costs;

(4)    Estimates of revenue;

(5)    Plans or specifications; and

(6)    Surveys.

(c)    (1)    A district may not pay interest on money borrowed from a governmental agency under this section.

(2)    If a district borrows from a governmental agency under this section, the district shall repay the lending governmental agency:

(i)    When work begins on the water system or sewerage system for which the borrowing was made; and

(ii)    Only from funds or bond revenues that, under this subtitle, relate to the project.

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§ 9-639. Territory lost to annexation
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