§ 21–514
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 21-514 (2026)
Title 21. Special Taxing Districts
Subtitle 5. Districts for Infrastructure Improvements for Selected Counties
§ 21–514LinkCopy Citation
(a)
Bonds are payable from the special fund required under § 21–506 of this subtitle.
(b)
Bonds issued under this subtitle are a special obligation of the county and are not a general obligation debt of the county or a pledge of the county’s full faith and credit or taxing power.
(c)
The governing body of a county that issues bonds under this subtitle may:
(1)
establish a sinking fund;
(2)
establish a debt service reserve fund;
(3)
pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
(4)
provide for municipal bond insurance or any other financial guaranty of the bonds.