§ 19-236. Interest rate exchange agreement or contracts
West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2013
Effective: October 1, 2013
MD Code, Local Government, § 19-236
Formerly cited as MD CODE, Art. 31, § 34
§ 19-236. Interest rate exchange agreement or contracts
(a) Notwithstanding any other law and in addition to any other authority, to improve the management of debt service or interest rate risks on its bonds or to reduce the cost of servicing its bonds, the governing body of a county may enact, by local law or resolution, authority for the county to:
(b)(1) A county that proposes to enter into one or more interest rate exchange agreements shall enact a local law or resolution that authorizes the transaction on the terms and conditions established by the county in the local law or resolution.
(ii) The county may delegate to an officer, an official, a board, or an agency of the county specified in the local law or resolution the power to provide for the final form and the final terms and provisions of the agreement, after giving due consideration to the creditworthiness of the counterparty.
Credits
Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013.
MD Code, Local Government, § 19-236, MD LOCAL GOVT § 19-236
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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