§ 19–606
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 19-606 (2026)
Title 19. Public Debt
Subtitle 6. Creation of Public Debt -- Public Schools
§ 19–606LinkCopy Citation
(a)
If the authorizing resolution provides, notes may be secured by:
(1)
a trust indenture with a corporate trustee, which may be any trust company or bank having the powers of a trust company in or outside the State; and
(2)
a letter of credit, line of credit, or other credit or liquidity instrument from or with a bank or other lending institution.
(b)
A security provided by an authorizing resolution under this section may be secured by the same security given to holders of the notes for the performance by a county of the county’s monetary obligations under the notes.