Sec. 42-27. Investment in and deposit of Authority's bonds.

   Under Chapter 601 of the 1992 Laws of Maryland:

   (a)   Revenue bonds issued under this Chapter are securities in which all public officers and public agencies of the State and its political subdivisions, and all banks, trust companies, savings and loan associations, investment companies and others carrying on a banking business, all insurance companies, and insurance associations and others carrying on an insurance business, all administrators, executors, guardians, trustees, and other fiduciaries, and all other persons may legally and properly invest funds, including capital, in their control or belonging to them.

   (b)   Revenue bonds issued under this Chapter are securities which may properly and legally be deposited with and received by any State or municipal officer or any agency or political subdivision of the State for any purpose for which the deposit of bonds or other obligations of the State is authorized by law. (1992 L.M.C., ch. 35, § 2.)

Sec. 42-28. Projects subject to planning, subdivision, and zoning laws.

   Construction of any project by the Authority is subject to County planning, subdivision, and zoning laws and regulations and those of any planning commission with jurisdiction over the facility or project to the same extent as those laws and regulations apply to a project owned and built by a government agency. The Authority must refer each project that it intends to build to the County Planning Board for its review and comment, as required by Section 20-301, et. seq. of the Land Use Article of the Maryland Code, before the Authority includes the project in its capital budget under Section 42-13. (1992 L.M.C., ch. 35, § 2; 1998 L.M.C., ch. 33, § 1; 2013 L.M.C., ch. 4, § 1.)

Sec. 42-29. Authority to comply with building permit and other regulations.

   Any facility or project constructed by the Authority must be built under the laws, rules and regulations of the County. The Authority must obtain building and other permits, where required, and must pay applicable permit fees. (1992 L.M.C., ch. 35, § 2.)

   Editor’s note—See County Attorney Opinion dated 1/29/97 evaluating fees that may be charged for permits for Montgomery County Public Schools, Washington Suburban Sanitary Commission, Montgomery College, Maryland-National Capital Park and Planning Commission, Revenue Authority, and County agencies. [attachments]

Sec. 42-30. Relocation of public utilities necessitated by project construction.

   (a)   If construction of a project requires the relocation of the facilities of any public utility, whether the utility is publicly, privately, or cooperatively owned, the Authority must pay the cost of removal of the facilities from the property of the Authority and the cost of relocation, including repair of the area disturbed by the removal. The cost of relocation includes the entire amount paid by the utility attributable to the relocation, including removal, transportation of facilities and equipment, and procurement of a new site.

   (b)   The Authority is not required to pay the cost of reconstructing the facilities at a new location.

   (c)   Notwithstanding subsection (b), the Authority may contract with the utility to pay part or all of the cost of reconstructing the facilities at a new location at its discretion. (1992 L.M.C., ch. 35, § 2.)

Sec. 42-31. Acquisition of property; incumberance of property.

   The Authority may acquire real and personal property, and interests in real and personal property, and may pledge, mortgage, encumber, sell, lease, transfer, or convey any interest in its real and personal property to the County or any person to the extent not subject to any pledge or security for outstanding indebtedness. (1992 L.M.C., ch. 35, § 2.)

Sec. 42-32. Authority earnings.

   Earnings of the Authority may not enure to the benefit of private persons. (1992 L.M.C., ch. 35, § 2.)