§ 3-8A-111. Bonds.

   (a)   Authority. Notwithstanding any other provision of law, the Resilience Authority may issue and sell bonds periodically:

      (1)   for resilience infrastructure projects;

      (2)   to refund outstanding bonds;

      (3)   to pay the costs of preparing, printing, selling, and issuing the bonds;

      (4)   to fund reserves; and

      (5)   to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.

   (b)   Limitation. Bonds issued by the Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of the County or the City of Annapolis.

(Bill No. 31-21)