Maryland Statutes
Subtitle 11 - Clean Energy Loan Programs
Section 1-1107 - Bonds -- Intent; Procedures; Restrictions

(a)    A county or municipality may incur general obligation debt for the purposes under this subtitle.
    (b)    Subject to subsection (c) of this section, a county or municipality may issue bonds to finance loans made under a program in accordance with the procedures of the county or municipality for authorization to sell and issue other evidences of indebtedness.
    (c)    A bond issued in accordance with an ordinance or a resolution that pledges the full faith and credit of a county or municipality is subject to:
        (1)    any applicable requirement of the Maryland Constitution and the county’s or municipality’s charter and laws on referendum for the issuance of general obligation debt; and
        (2)    any limitation imposed by public general law, public local law, or charter on general obligation debt of the county or municipality.

Structure Maryland Statutes