§ 17-206. Projects

   (a) Financing. -- The Commission may finance initial program development costs and other project costs for a project subject to this subtitle from Commission funding sources other than revenue bond proceeds only if those costs are reimbursed from project revenues.

(b) Funding not to exceed percentage of gross revenues. -- In any fiscal year, funding of initial program development costs and other project costs under subsection (a) of this section may not exceed an amount equal to 3% of the gross revenues of the Commission from water service charges and sewer usage charges for the immediately preceding fiscal year.

(c) Projects utilizing revenue bonds. -- Any project, contract, or transaction entered into under this subtitle that uses revenue bonds issued under Title 22, Subtitle 2 of this article shall be entered into by the Commission through the use of:

   (1) a limited liability company;

   (2) a limited liability partnership;

   (3) a limited partnership; or

   (4) another comparable limited liability entity or arrangement.

HISTORY: An. Code 1957, art. 29, § 1-206(d), (f), (g), 1-208(e)-(g); 2010, ch. 37, § 3.