<?xml version='1.0' encoding='utf-8'?>
<section article="gsf" article_name="State Finance and Procurement" number="8-121" title_number="8" title_name="Debt" subtitle_number="1" subtitle_name="General Obligation Debt">
  <level label="a">
    <text>By resolution, the Board may specify the form in which State bonds are to be issued, including:</text>
    <level label="1">
      <text>a coupon form;</text>
    </level>
    <level label="2">
      <text>a capital appreciation form;</text>
    </level>
    <level label="3">
      <text>a variable interest rate form;</text>
    </level>
    <level label="4">
      <text>a form that qualifies for tax credits, interest subsidies, or other federal tax benefits;</text>
    </level>
    <level label="5">
      <text>a form that qualifies as a registered form under §§ 54A, 103, and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections; and</text>
    </level>
    <level label="6">
      <text>any other registered form.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>Whenever the Board provides for the sale of State bonds in registered form, the Board may establish procedures for the registration and transfer of the State bonds.</text>
    </level>
    <level label="2">
      <text>The Board may exercise any other power that relates to issuance of State bonds in registered form and that is not conferred on the Treasurer.</text>
    </level>
  </level>
  <level label="c">
    <text>Whenever the Board provides for the sale of State bonds in registered form, the Treasurer may:</text>
    <level label="1">
      <text>appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent, or use the agent appointed under § 8-135 of this subtitle;</text>
    </level>
    <level label="2">
      <text>specify the rights, duties, and compensation of the agent; and</text>
    </level>
    <level label="3">
      <text>in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the State bonds, make agreements with:</text>
      <level label="i">
        <text>custodian banks and their nominees; or</text>
      </level>
      <level label="ii">
        <text>financial intermediaries and their nominees.</text>
      </level>
    </level>
  </level>
  <level label="d">
    <text>Whenever the Board provides for the sale of State bonds in variable interest rate form, the Treasurer may:</text>
    <level label="1">
      <text>appoint any agent or other contracting party, including an underwriter, remarketing agent, dealer, tender agent, insurer, liquidity provider, or similar entity; and</text>
    </level>
    <level label="2">
      <text>specify the rights, duties, and compensation of and make agreements with the agent or other contracting party.</text>
    </level>
  </level>
</section>
