Bonds issued under this subtitle shall:
(1) Be dated;
(2) Bear interest at the rate or rates that the sanitary commission determines;
(3) Bear the seal of the district;
(4) Be signed for the district;
(5) Bear maturity dates that:
(i) Are determined by the sanitary commission; and
(ii) Are not more than 40 years from the date of issue; and
(6) Subject to the limitation on liability of each member county of a multiple county district under § 9-696 of this subtitle, be endorsed by each member county as follows: “The payment of interest when due and the principal at maturity is guaranteed by .......... (name of member county), Maryland”.
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