Section 1-1106 - Bonds - General authority(a) A county or municipality may issue bonds to finance loans made through a program.(b) To issue a bond, a county or municipality shall adopt an ordinance or a resolution that specifies the maximum principal amount of the bond.(c) In the ordinance or resolution, the county or municipality may: (1) specify the items listed in subsection (d) of this section;(2) authorize the finance board of the county or municipality to specify those items by ordinance or resolution; or(3) authorize the chief executive to specify those items by executive order.(d) For each issuance of a bond, the county or municipality may specify: (1) the principal amount;(2) the interest rate or, for floating or variable rates of interest, the method to determine the interest rate;(3) the manner and terms of sale, including whether by competitive or negotiated sale;(4) the time of execution, issuance, and delivery;(5) the form and denomination;(6) the source, manner, times, and places to pay principal or interest;(7) conditions for redemption before maturity;(8) the purposes for which proceeds may be spent;(9) the source of security; and(10) other provisions that are necessary or desirable to effect the program.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.