(a) A fiscal officer of a municipality who has custody of a sinking fund established by the municipality to pay the principal of or the interest on bonds issued in accordance with the charter of the municipality or this subtitle may invest the sinking fund only as provided in § 19–102 of this title.
(b) A fiscal officer of a municipality who has custody of bond proceeds may invest the proceeds as provided in §§ 17–101 and 17–102 of this article.
Structure Maryland Statutes
Subtitle 3 - Creation of Public Debt -- Municipalities
Section 19-301 - Conflict With Charter; Authority to Adopt Charter Amendments and to Exercise Powers
Section 19-302 - Authority to Borrow Money and Issue Bonds and Tax Anticipation Notes
Section 19-303 - Procedures for Issuing Bonds
Section 19-304 - Limitations on Authority to Issue Bonds and Tax Anticipation Notes
Section 19-305 - Negotiability of Bonds and Tax Anticipation Notes
Section 19-306 - Tax Status of Bonds and Tax Anticipation Notes
Section 19-307 - Investment of Sinking Fund and Bond Proceeds
Section 19-308 - Liability for Bonds and Tax Anticipation Notes; Imposition of Taxes; Limits on Debt