Maryland Code, PUBLIC UTILITIES 22-109
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Terms Used In Maryland Code, PUBLIC UTILITIES 22-109
To ensure the prompt payment of interest and provision for the payment of the principal on bonds issued under this subtitle:
(1) the prompt and proper performance of the acts required under §§ 22-106 and 22-108 of this subtitle is specially enjoined; and
(2) a person who is required to act under §§ 22-106 and 22-108 of this subtitle:
(i) shall perform the acts required under those sections;
(ii) shall pay over any funds as required under those sections; and
(iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.