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§ 10-220. Bonds--Liability; faith and credit

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 2. Maryland Food Center Authority (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 10-220
§ 10-220. Bonds--Liability; faith and credit
Currentness
Liability limitations
(a) A bond is not a debt or a pledge of the faith and credit of the State or a political subdivision, and is payable solely from development or project revenues as provided in accordance with this subtitle.
Statement
(b) Each bond shall state on its face that the Authority, the State, and a political subdivision of the State are not obliged to pay the principal of or interest on the bond except from the development or project revenues pledged to the payment of the bond.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.
MD Code, Economic Development, § 10-220, MD ECON DEV § 10-220
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document