Maryland Statutes
Subtitle 11 - Clean Energy Loan Programs
Section 1-1106 - Bonds -- General Authority

(a)    A county or municipality may issue bonds to finance loans made through a program.
    (b)    To issue a bond, a county or municipality shall adopt an ordinance or a resolution that specifies the maximum principal amount of the bond.
    (c)    In the ordinance or resolution, the county or municipality may:
        (1)    specify the items listed in subsection (d) of this section;
        (2)    authorize the finance board of the county or municipality to specify those items by ordinance or resolution; or
        (3)    authorize the chief executive to specify those items by executive order.
    (d)    For each issuance of a bond, the county or municipality may specify:
        (1)    the principal amount;
        (2)    the interest rate or, for floating or variable rates of interest, the method to determine the interest rate;
        (3)    the manner and terms of sale, including whether by competitive or negotiated sale;
        (4)    the time of execution, issuance, and delivery;
        (5)    the form and denomination;
        (6)    the source, manner, times, and places to pay principal or interest;
        (7)    conditions for redemption before maturity;
        (8)    the purposes for which proceeds may be spent;
        (9)    the source of security; and
        (10)    other provisions that are necessary or desirable to effect the program.