§ 19-904. Authority to issue pension liability funding bonds
West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2013
Effective: October 1, 2013
MD Code, Local Government, § 19-904
Formerly cited as MD CODE, Art. 31, § 32
§ 19-904. Authority to issue pension liability funding bonds
(a) A county or municipality that is authorized under law to borrow money and issue bonds may issue pension liability funding bonds to fund any unfunded present or contingent liability of any kind under a pension or retirement plan or system.
(b) Pension liability funding bonds may be issued for the public purposes of:
(c) The authority to issue pension liability funding bonds under this subtitle is supplemental to any authority to borrow money or issue bonds granted to a county or municipality under any other law.
(d) Except as otherwise provided in this subtitle, pension liability funding bonds are subject to any requirement that applies to the issuance of the county's or municipality's bonds that have the same source of payment as the pension liability funding bonds regarding:
Credits
Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013.
MD Code, Local Government, § 19-904, MD LOCAL GOVT § 19-904
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.
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