Maryland Statutes
Part I - Public Schools -- in General
Section 19-606 - Security

(a)    If the authorizing resolution provides, notes may be secured by:
        (1)    a trust indenture with a corporate trustee, which may be any trust company or bank having the powers of a trust company in or outside the State; and
        (2)    a letter of credit, line of credit, or other credit or liquidity instrument from or with a bank or other lending institution.
    (b)    A security provided by an authorizing resolution under this section may be secured by the same security given to holders of the notes for the performance by a county of the county’s monetary obligations under the notes.

Structure Maryland Statutes