Current with changes from the 2024 Legislative Session
Section 19-605 - Authorizing resolution(a) The notes shall be authorized by a resolution.(b) The authorizing resolution shall: (1) cite the authority to issue the notes and the amount authorized; and(2) specify: (ii) the interest rate or manner of determining the rate, which may include a variable rate;(iii)1. the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or2. the manner of determining the price at which the notes will be sold;(iv) the manner of the sale of the notes, which may be by private negotiation by the county with a prospective purchaser, if determined by the county to be in the county's best interest;(v) the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and(vi) other terms on the notes.(c) The authorizing resolution may provide for:(1) the issuance of the notes in series, as money is required; and(2) the renewal of the notes at maturity, with or without resale.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.