§ 19–605
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 19-605 (2026)
Title 19. Public Debt
Subtitle 6. Creation of Public Debt -- Public Schools
§ 19–605LinkCopy Citation
(a)
The notes shall be authorized by a resolution.
(b)
The authorizing resolution shall:
(1)
cite the authority to issue the notes and the amount authorized; and
(2)
specify:
(i)
the maturity;
(ii)
the interest rate or manner of determining the rate, which may include a variable rate;
(iii)
(1)
the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or
(2)
the manner of determining the price at which the notes will be sold;
(iv)
the manner of the sale of the notes, which may be by private negotiation by the county with a prospective purchaser, if determined by the county to be in the county’s best interest;
(v)
the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and
(vi)
other terms on the notes.
(c)
The authorizing resolution may provide for:
(1)
the issuance of the notes in series, as money is required; and
(2)
the renewal of the notes at maturity, with or without resale.