§ 8–404
Statutes in effect as of October 1, 2026.
Md. Code Ann., State Fin. & Proc. § 8-404 (2026)
Title 8. Debt
Subtitle 4. Capital Leases
§ 8–404LinkCopy Citation
A capital lease authorized under this subtitle:
(1)
shall be contingent on the availability of appropriated or other legally available funds, not including nonappropriated pension or retirement funds, that permit the timely payment of principal, interest, and other obligations, if any, imposed by the terms of the capital lease;
(2)
may not be construed or deemed to be a debt of the State or a unit of State government; and
(3)
may not constitute a pledge of the full faith and credit and taxing power of the State or a unit of State government.