# State Finance and Procurement (GSF)

## Title 8. Debt

### Subtitle 1. General Obligation Debt

#### Section 8-101

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

(b) "Board" means the Board of Public Works.

(c) "Capital appreciation bond" means a State bond that accrues interest payable only on the date of maturity.

(d) "Enabling act" means a law that authorizes the creation of a general obligation debt of the State and the sale of State bonds to evidence that debt.

(e) "State bond" means a general obligation bond of the State.

(f) "State debt" means the general obligation debt of the State.

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Md. Code Ann., State Fin. & Proc. (as displayed at mgaleg.maryland.gov, October 16, 2026)