Current with changes from the 2024 Legislative Session
Section 19-606 - Security(a) If the authorizing resolution provides, notes may be secured by: (1) a trust indenture with a corporate trustee, which may be any trust company or bank having the powers of a trust company in or outside the State; and(2) a letter of credit, line of credit, or other credit or liquidity instrument from or with a bank or other lending institution.(b) A security provided by an authorizing resolution under this section may be secured by the same security given to holders of the notes for the performance by a county of the county's monetary obligations under the notes.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.