Maryland Statutes
Part I - Public Schools -- in General
Section 19-605 - Authorizing Resolution

(a)    The notes shall be authorized by a resolution.
    (b)    The authorizing resolution shall:
        (1)    cite the authority to issue the notes and the amount authorized; and
        (2)    specify:
            (i)    the maturity;
            (ii)    the interest rate or manner of determining the rate, which may include a variable rate;
            (iii)    1.    the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or
                2.    the manner of determining the price at which the notes will be sold;
            (iv)    the manner of the sale of the notes, which may be by private negotiation by the county with a prospective purchaser, if determined by the county to be in the county’s best interest;
            (v)    the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and
            (vi)    other terms on the notes.
    (c)    The authorizing resolution may provide for:
        (1)    the issuance of the notes in series, as money is required; and
        (2)    the renewal of the notes at maturity, with or without resale.

Structure Maryland Statutes