# Local Government (GLG)

## Title 17. Investment by Local Government

### Subtitle 2. Local Government Investment Guidelines

#### Section 17-201

(a) In this subtitle the following words have the meanings indicated.

(b) "Financial officer" means the treasurer or other financial officer of a governmental entity who is responsible for the investment of public funds or the issuance and management of debt of the governmental entity.

(c) "Governing authority" means:

  (1) for Baltimore City, the Baltimore City Board of Estimates;

  (2) for a commission county, the county commissioners;

  (3) for a charter county, as provided by local law, the county council or the county executive and the county council;

  (4) for a code county, the county commissioners;

  (5) for a community college, the board of trustees;

  (6) for a municipality, the body provided by the municipal charter;

  (7) for the Washington Suburban Sanitary Commission, the Commission;

  (8) for a public corporation, the board of directors; and

  (9) for an authority, the board of the authority.

(d)

  (1) Except as provided in paragraph (2) of this subsection, "public money" means any money held by a governmental entity.

  (2) "Public money" does not include money held as part of a pension fund, a fund for other postemployment benefits, as defined in Sec. 17-102(a) of this title, a trust fund account, or a facility closure reserve fund or for self-insurance purposes.

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Md. Code Ann., Local Gov't (as displayed at mgaleg.maryland.gov, October 16, 2026)