(a) By local law, a county or municipality may guarantee the bonds as to payment of principal, interest, and any redemption premium by the full faith and credit of the county or municipality.
(b) A municipality may not grant an authority independent taxing authority.
Structure Maryland Statutes
Title 18 - Local Economic Development
Subtitle 1 - Parking Authorities Act
Section 18-102 - Legislative Findings; Purposes of Subtitle
Section 18-103 - Scope of Subtitle
Section 18-104 - Powers of Counties or Municipalities -- in General
Section 18-105 - Authority Established
Section 18-106 - Powers of Counties or Municipalities -- Amendments
Section 18-108 - Powers of Authority -- in General
Section 18-109 - Powers of Authority -- Enactment by County
Section 18-110 - Authority Property Exempt From Taxation
Section 18-111 - Earnings of Authority
Section 18-112 - Termination of Authority
Section 18-113 - Act of Authority Not Subject to Challenge
Section 18-114 - Revenue Bonds
Section 18-115 - Revenue Bonds -- Probable Useful Life of Project
Section 18-116 - Revenue Bonds -- Matters Determined by Local Law
Section 18-117 - Guarantee of Revenue Bonds; Independent Taxing Authority Not Conferred
Section 18-118 - Revenue Bonds -- Referendum Provisions Inapplicable
Section 18-119 - Revenue Bonds -- Application of Conditions of Sale Requirements