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§ 22-106. Authority to issue bonds

West's Annotated Code of MarylandLocal GovernmentEffective: July 1, 2020

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division IV. Local Finance [Titles 16-23] (Refs & Annos)
Title 22. Resilience Infrastructure (Refs & Annos)
Effective: July 1, 2020
MD Code, Local Government, § 22-106
§ 22-106. Authority to issue bonds
Currentness
In general
(a) Notwithstanding any other provision of law, a Resilience Authority may issue and sell bonds periodically:
(1) for resilience infrastructure projects;
(2) to refund outstanding bonds;
(3) to pay the costs of preparing, printing, selling, and issuing the bonds;
(4) to fund reserves; and
(5) to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.
Limited obligation
(b) Bonds issued by a Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of an incorporating local government.

Credits

Added by Acts 2020, c. 235, § 1, eff. July 1, 2020; Acts 2020, c. 236, § 1, eff. July 1, 2020.
MD Code, Local Government, § 22-106, MD LOCAL GOVT § 22-106
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document