Section 9-809 - Validity of bonds. - Maryland Statutes

§ 9-809. Validity of bonds.
 

(a)  Signatures.-  

(1) Any bond issued under this subtitle that bears the signatures of the officers in office on the date the bond is signed is a valid and binding obligation notwithstanding that: 

(i) At the time of delivery of or payment for the bond, any or all of the signers are no longer officers of the municipality; or 

(ii) Any proceeding that relates to the development of the sewerage facility for which the bond is issued is invalid or irregular. 

(2) A signature may be by facsimile as provided in § 2-303 of the State Finance and Procurement Article. 

(b)  Recital.- A recital in the bond that the bond is issued under this subtitle is conclusive evidence of: 

(1) The validity of the bond; and 

(2) The regularity of the issuance of the bond. 
 

[An. Code 1957, art. 43, § 433; 1982, ch. 240, § 2; 1985, ch. 717, § 1.]