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§ 19-503. Authority to borrow money and issue bonds

West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2013

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division IV. Local Finance [Titles 16-23] (Refs & Annos)
Title 19. Public Debt (Refs & Annos)
Subtitle 5. Creation of Public Debt--Code Counties (Refs & Annos)
Effective: October 1, 2013
MD Code, Local Government, § 19-503
Formerly cited as MD CODE, Art. 25B, § 14; MD CODE, Art. 25B, § 20
§ 19-503. Authority to borrow money and issue bonds
Currentness
General obligation bonds
(a) A county may:
(1) borrow money for any public purpose; and
(2) issue and sell general obligation bonds to evidence the borrowing.
Revenue bonds
(b) By local law, a county may provide for the issuance of revenue bonds payable as to principal and interest solely from the revenues of one or more revenue-producing projects of the county.
Bonds for sanitary facilities and bonds authorized by local law
(c) Notwithstanding any other provision of this subtitle, a county may issue bonds:
(1) for sanitary facilities as provided in the Environment Article; and
(2) as authorized by local law in effect on the date the county adopts code home rule.

Credits

Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013.
MD Code, Local Government, § 19-503, MD LOCAL GOVT § 19-503
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