Maryland § 22-107
Full text of Maryland Maryland Code § 22-107, with citation guidance and answers to common questions.
§ 22-107.
(a) (1) The amount collected by the Commission for benefits imposed against property for water supply and sewer construction under Title 25, Subtitle 2 of this article shall be set aside in a separate fund known as the Current Bond Fund.
(2) (i) The Current Bond Fund shall be used to pay interest on all outstanding bonds.
(ii) The balance of the Current Bond Fund shall be prorated monthly and applied to:
1. the payment of the principal of maturing serial bonds; and
2. the payment into the joint Sinking Fund Account, as provided under § 22–108 of this subtitle, of the proportionate part of the principal of outstanding sinking fund bonds as the outstanding par value of both types of bonds bear to each other.
(b) To determine the amount necessary to be imposed under § 22–106 of this subtitle, the Commission shall deduct the amount to its credit in the Current Bond Fund account from the amount necessary to be raised in any 1 year for interest on all outstanding bonds.
Frequently Asked Questions About Maryland § 22-107
What does Maryland Code § 22-107 cover?
Section 22-107 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 22-107?
A common citation format is "Maryland Code § 22-107" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 22-107 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.