Limitations on issuance of additional bonds

1. Law
2. Maryland Code
3. Environment
4. Water, Ice, and Sanitary Facilities
5. Water and Sewer Authorities
6. Bonds of Authorities
7. Limitations on issuance of additional bonds

    (a)    If an authority considers it necessary, the authority may include any limitation or restriction on the issuance of additional bonds:

        (1)    In the resolution that provides for the issuance of bonds of the authority; or

        (2)    In any trust agreement that secures the bonds.

    (b)    If a resolution or trust agreement places any limitation or restriction on the issuance of additional bonds, the authority shall honor the limitation or restriction when the authority issues additional bonds.

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