Md. Code, Local Gov't § 21-514

Current with changes from the 2024 Legislative Session
Section 21-514 - Payment of bonds
(a) Bonds are payable from the special fund required under § 21-506 of this subtitle.
(b) Bonds issued under this subtitle are a special obligation of the county and are not a general obligation debt of the county or a pledge of the county's full faith and credit or taxing power.
(c) The governing body of a county that issues bonds under this subtitle may:
(1) establish a sinking fund;
(2) establish a debt service reserve fund;
(3) pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
(4) provide for municipal bond insurance or any other financial guaranty of the bonds.

Md. Code, LG § 21-514

Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.