Section 9-686 - Required contents of bonds. - Maryland Statutes

§ 9-686. Required contents of bonds.
 

Bonds issued under this subtitle shall: 

(1) Be dated; 

(2) Bear interest at the rate or rates that the sanitary commission determines; 

(3) Bear the seal of the district; 

(4) Be signed for the district; 

(5) Bear maturity dates that: 

(i) Are determined by the sanitary commission; and 

(ii) Are not more than 40 years from the date of issue; and 

(6) Subject to the limitation on liability of each member county of a multiple county district under § 9-696 of this subtitle, be endorsed by each member county as follows: "The payment of interest when due and the principal at maturity is guaranteed by . . . . . (name of member county), Maryland". 
 

[An. Code 1957, art. 43, § 654; 1982, ch. 240, § 2.]