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 Baltimore County
 Code of Ordinances
 Article 20. METROPOLITAN DISTRICT
 Title 4. BONDS

§ 20-4-101. AUTHORIZED; COMPETITIVE BIDDING; NOTICE OF SALE.  

Latest version.

  • (a)

    For the purpose of providing funds for meeting the expenses of the county and for designing and construction, purchase or acquisition of the water supply, sewerage, and drainage systems provided for by this article, the county shall from time to time, as it deems necessary, issue bonds upon the faith and credit of the county.

    (b)

    Except as hereinafter provided, the county shall offer such bonds by solicitation of competitive bids therefor at public sale, which offering, except as herein otherwise provided, shall be made in accordance with the provisions of Ann. Code of Md. art. 31, § 10. The county shall, by ordinance or resolution, fix the terms and conditions of the public sale or sales of such bonds, and such ordinance or resolution shall adopt suitable forms of notice of such sale or sales which shall briefly outline the terms and conditions thereof in accordance with the provisions of this and the following sections. In lieu of publishing the entire notice of sale, in any instance, the county may, if it so elects, in any such ordinance or resolution provide for the publication of a brief summary of any such notice which need not contain all or any of the information called for by Ann. Code of Md. art. 31, § 10, but which shall state where interested parties may obtain a complete copy of any such notice of sale. Each such notice of sale may also contain a brief summary of pertinent current financial information or indicate from whom such information may be obtained. All accrued interest between the date of such bonds and the time of sale and delivery of and payment for such bonds shall be adjusted with the purchasers thereof.

    (c)

    As an alternative to compliance with the provisions of subsection (b) of this section, it is confirmed that bonds may be sold at competitive sale in accordance with the procedures set forth in a bond authorization ordinance described in and complying with Section 720 of the Charter.

(1988 Code, § 35-251) (Bill No. 126, § 2, 9-28-1990; Bill No. 30-03, § 1, 7-1-2004)

Editor's note

In Chapter 119 of the Laws of Maryland of 2013, former Ann. Code of Md. art. 31, § 10 was revised as Ann. Code of Md. Local Government Article, § 19-205(b), (c), (d), (e), and (f).