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<section article="gec" article_name="Economic Development" number="10-843" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="8" subtitle_name="Maryland Clean Energy Center">
  <level label="a">
    <text>A bond:</text>
    <level label="1">
      <text>is not:</text>
      <level label="i">
        <text>a debt or liability of the State or a political subdivision of the State; or</text>
      </level>
      <level label="ii">
        <text>a pledge of the faith and credit of the State or a political subdivision of the State; and</text>
      </level>
    </level>
    <level label="2">
      <text>is payable solely from money available in accordance with this subtitle.</text>
    </level>
  </level>
  <level label="b">
    <text>Each bond shall state on its face that:</text>
    <level label="1">
      <text>the State and its political subdivisions are not obliged to pay the bond or the interest on the bond except from revenues of the project or the portion of the project for which the bond is issued; and</text>
    </level>
    <level label="2">
      <text>the faith, credit, and taxing power of the State and its political subdivisions are not pledged to pay the principal of or the interest on the bond.</text>
    </level>
  </level>
  <level label="c">
    <text>The issuance of bonds does not directly, indirectly, or contingently obligate the State or its political subdivisions:</text>
    <level label="1">
      <text>to levy or pledge a tax to pay the bonds; or</text>
    </level>
    <level label="2">
      <text>to make an appropriation to pay the bonds.</text>
    </level>
  </level>
  <level label="d">
    <text>This section does not prevent the Center from pledging its full faith and credit to pay bonds.</text>
  </level>
</section>
