Maryland Statutes
Part I - Definitions; General Provisions
Section 21-514 - Payment of Bonds

(a)    Bonds are payable from the special fund required under § 21–506 of this subtitle.
    (b)    Bonds issued under this subtitle are a special obligation of the county and are not a general obligation debt of the county or a pledge of the county’s full faith and credit or taxing power.
    (c)    The governing body of a county that issues bonds under this subtitle may:
        (1)    establish a sinking fund;
        (2)    establish a debt service reserve fund;
        (3)    pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
        (4)    provide for municipal bond insurance or any other financial guaranty of the bonds.

Structure Maryland Statutes