Section 9-660 - Disposition of proceeds of benefit assessments. - Maryland Statutes

§ 9-660. Disposition of proceeds of benefit assessments.
 

(a)  "District account" defined.- In this section, "district account" means the account maintained by a sanitary commission in accordance with this section. 

(b)  Credit to district account.- A sanitary commission shall: 

(1) Maintain a district account; and 

(2) Credit to the district account all proceeds from the benefit assessments levied under this subtitle. 

(c)  Payment of bond principal and interest.- The sanitary commission shall use funds in the district account to pay the principal and interest on the bonds for which the benefit assessment was levied. 
 

[An. Code 1943, art. 43, § 662; 1982, ch. 240, § 2; 2006, ch. 44, § 6.]