(a) A covered county may issue new bonds to pay outstanding bonds in accordance with procedures of this subtitle and § 19–207 of the Local Government Article.
(b) New bonds shall be secured to the same extent and shall have the same source of payment as the bonds refunded.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 4 - Division of Development Finance
Subtitle 16 - Residential Mortgage Programs for Certain Counties
Section 4-1603 - Purposes of Subtitle
Section 4-1604 - Power of Covered County to Borrow Money; Availability of Money
Section 4-1605 - Covered County May Collect Charges From Borrowers
Section 4-1606 - Ordinance or Resolution to Issue Bonds
Section 4-1607 - Characteristics of Bonds