# Local Government (GLG)

## Title 19. Public Debt

### Subtitle 2. Public Securities

#### Section 19-201

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

(b)

  (1) "Bond" means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a governmental entity under general or special statutory authority.

  (2) "Bond" includes:

    (i) a bond;

    (ii) a certificate of indebtedness;

    (iii) an interim certificate; and

    (iv) a note.

(c) "Enabling act" means a law that authorizes a governmental entity to create a debt and sell bonds to evidence that debt.

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