A. 
Bonds authorized. The County may borrow money through the issuance and sale on the full faith and credit of the County of its general obligation bonds.
B. 
Purpose of bonds. The County shall use the proceeds of the bonds to provide funds to finance the design, engineering, construction, establishment, installation, improvement, extension, purchase, acquisition, or condemnation of any water supply, sewerage, solid waste, or drainage system authorized by this Part 1, including the provision of funds for the payment of interest before and during construction of the system and for a limited period not exceeding one year after the completion of construction.
A. 
Competitive bids. Except as otherwise provided in this section, the County shall offer bonds authorized under this Article VI of this Part 1 only by solicitation of competitive bids made in accordance with Article 31 of the Annotated Code of Maryland.
B. 
Ordinance or resolution.
(1) 
The County shall adopt an ordinance or resolution that:
(a) 
Fixes the terms and conditions of the public sale of the bonds; and
(b) 
Provides for suitable forms of notice of the sale that shall briefly outline the terms and conditions of the sale in accordance with the provisions of this Article VI of this Part 1.
(2) 
In the ordinance or resolution, the County may provide for publication of a brief summary of the notice of sale, in lieu of publishing the entire notice, which need not contain all or any of the information called for by Article 31 of the Annotated Code of Maryland, but which shall state where interested parties may obtain a complete copy of the notice of sale.
(3) 
Each notice of sale also may contain a brief summary of pertinent current financial information or indicate from whom that information may be obtained.
C. 
Sale to United States or State of Maryland.
(1) 
Notwithstanding anything in this Part 1 or any other provision of law, the County may sell any bonds issued under this Part 1 to the United States of America or to the State of Maryland, or to an agency of either of them, at private sale on the same terms and conditions as may govern other purchases of similar obligations by the United States of America or the State of Maryland, or any agency of either of them.
(2) 
The County need not publish any notice of sale with respect to or receive bids for any bonds issued under this Part 1 before selling the bonds at private sale to the United States of America or to the State of Maryland, or to any agency of either of them.
A. 
Receipt of bids. On the day mentioned in the notice of sale or the summary of the notice for opening the bids for the proposals called for, the County shall receive sealed proposals for the purchase of the bonds as may be designated in the notice of sale or the summary of the notice.
B. 
Award.
(1) 
Subject to the provisions of this Part 1, on the opening in public of the sealed proposals, the County shall award the bonds to the bidder or bidders for the bonds in cash, whose bid or bids are determined to be in the best interest of the County.
(2) 
If there is no bid or an insufficient price is bid, the County may subsequently sell the bonds at a private sale on the best terms that can be obtained for the bonds, but they may not be sold at private sale for less than par and accrued interest.
C. 
Payment. All payments of the purchase price of the bonds shall be made to the designated County official.
D. 
Form and content of bond.
(1) 
The bonds shall be designated "Queen Anne's County Sanitary District Bonds."
(2) 
The bonds shall be serial bonds issued on the serial maturity plan.
(3) 
The County may adopt an ordinance or resolution that sets:
(a) 
The form of the bonds;
(b) 
The denominations of the bonds;
(c) 
The period of maturity of the bonds, not exceeding 50 years; and
(d) 
The rates of interest of the bonds.
(4) 
The bonds shall:
(a) 
Be executed on behalf of Queen Anne's County, Maryland, by the President of the County Commissioners, whose signature may be by facsimile;
(b) 
Have the corporate seal of the County affixed to the bond; and
(c) 
Be authenticated and attested by the manual signature of the Clerk of the County Commissioners of Queen Anne's County.
E. 
Redeeming bonds. The County may make the bonds redeemable at whatever price and under whatever terms and conditions as the County determines in the ordinance or resolution.
Any bonds or notes issued under this Part 1, their transfer, the interest payable on the bonds, and income derived from the bonds in the hands of the holders of bonds, including any profit made in the sale of bonds, shall be at all times exempt from taxation of every kind and nature whatsoever by the State of Maryland or by any of its political subdivisions or by any town or incorporated municipality or by any other public agency within the State of Maryland.
A. 
Total issue of bonds; maximum amount. The total issue of bonds outstanding for any purpose under this Part 1 may not exceed 15% of the total value of property assessed for County taxation purposes whenever the County shall propose to issue bonds under the authority contained in this Part 1.
B. 
Referendum not required. The authority to issue bonds may be exercised and bonds may be issued without submitting the proposal or issue to a referendum of the registered voters of the County for their approval or rejection.
A. 
In general. The County shall pay the interest on and the principal of any bonds issued under this Part 1 from the funds received from:
(1) 
The levy and collection of the benefit assessments; and
(2) 
The imposition of connection service and other charges under this Part 1.
B. 
Ad valorem tax.
(1) 
To the extent that the funds from the sources listed under Subsection A of this section are insufficient to pay the principal of or interest on any bonds issued under this Part 1, the County Commissioners in each year in which the bonds are outstanding shall levy and collect ad valorem taxes on all assessable property in the corporate limits of the County in rate and amount sufficient to provide for the payments when due.
(2) 
If the proceeds from the taxes levied under Subsection B(1) of this section in any fiscal year are inadequate to make payments on the bonds, the County Commissioners shall levy additional taxes in the succeeding fiscal year to make up any deficiency.
C. 
Collection of taxes.
(1) 
The designated County official shall collect the taxes levied under this section in the same manner as state and County taxes are collected.
(2) 
The tax levied under this section shall bear the same interest and be subject to the same penalties in the event of nonpayment as in the case of other County taxes.
A. 
In general. Whenever the County issues bonds under this Part 1, together with any other issue of bonds for any public purpose, the County may consolidate the bonds issued under this Part 1 with the issue of bonds for any other public purpose.
B. 
Bids: all-or-none basis. If bond issues are consolidated for sale, the County may require that bids for the consolidated issues of bonds be submitted on an all-or-none basis.
C. 
Applicability.
(1) 
This section applies to all County loans authorized, notwithstanding any provisions contained in any act expressly authorizing the loans.
(2) 
Any provision of an act that is inconsistent with this section is repealed to the extent of the inconsistency.
A. 
General obligation notes.
(1) 
To provide funds for the interim financing of the design, engineering, construction, establishment, installation, improvement, extension, purchase, acquisition, or condemnation of any water supply, sewerage, solid waste, or drainage system authorized by this Part 1, the County may borrow money in any amount for periods not exceeding five years through the issuance and sale on the full faith and credit of the County of its general obligation notes.
(2) 
The County may issue notes partly to renew notes or to discharge other obligations then outstanding, and partly for any other purpose.
B. 
Resolution.
(1) 
The notes shall be authorized by a resolution, which shall:
(a) 
Cite the authority for the notes and the amount authorized;
(b) 
Fix the maturity, interest rate or manner of determining the interest rate, and other terms of the notes;
(c) 
Fix the price at which the notes may be sold, which may be at, above, or below the face value of the notes; and
(d) 
Fix the manner of the notes sale, which may be by private negotiation by the County with a prospective purchaser if the County deems the sale to be in the public interest and so finds in the resolution.
(2) 
The resolution may provide for:
(a) 
The issuance of the notes in series as funds are required; and
(b) 
For the renewal of the notes at maturity with or without resale.
C. 
Execution of notes. The notes shall be executed on behalf of the County in the same manner as is provided for bonds issued under this Part 1.