Section 9-714 - Service charges to pay interest and principal on bonds and to pay other costs. - Maryland Statutes

§ 9-714. Service charges to pay interest and principal on bonds and to pay other costs.
 

(a)  Municipal authority to set, collect, and revise rates.- A municipal authority may set, collect, and, if necessary, modify service rates to provide funds: 

(1) To pay all or part of the principal and interest on bonds issued under Part II of this subtitle; and 

(2) To pay for the cost of maintenance, repair, and operation, including overhead expenses and depreciation allowance, of systems constructed under Part II of this subtitle. 

(b)  Charge and collection.- The service rates shall be: 

(1) Chargeable against all property served by any system under the ownership of the municipal authority; and 

(2) Collectible against the owner of the property served, in the same manner as other debts are collectible at law. 

(c)  Time for payment; penalty for nonpayment.- The municipal authority may set: 

(1) The time for payment; and 

(2) The penalties for nonpayment. 
 

[An. Code 1957, art. 43, § 416; 1982, ch. 240, § 2.]