# Housing and Community Development (GHS)

## Title 16. Montgomery County

### Subtitle 2. Bonds

#### Section 16-203

(a) Except as provided in subsections (b) and (c) of this section, the bonds authorized to be guaranteed under this subtitle are subject to Sec. 312 of the County Charter.

(b) The bonds may be structured with:

  (1) substantially level debt service payments; and

  (2) interest-only payments during the projected period for construction or rehabilitation of the housing project financed with bonds issued under this subtitle and Sec. 12-702 of this article.

(c)

  (1) The bonds shall be issued on a serial maturity plan.

  (2) Part of each issue may be sold as term bonds structured with mandatory sinking fund payments, if required for market acceptance and approved by the county government in the manner specified by the County Council resolution adopted under Sec. 16-206 of this subtitle.

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Md. Code Ann., Hous. & Cmty. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)