Maryland Statutes
Part III - Authorization and Implementation
Section 8-123.2 - Sale of Small Denomination Bonds

(a)    In this section, “small denomination bonds” means bonds in denominations of $5,000 or less.
    (b)    In accordance with § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of any State bond issue, may designate that all or a portion of the State bonds be issued as small denomination bonds.
    (c)    Small denomination bonds may be issued in any form permitted under § 8-121 of this subtitle.
    (d)    The Board may sell small denomination bonds at a negotiated sale if the Board determines that a negotiated sale will:
        (1)    result in either a more efficient or economical sale of the bonds; or
        (2)    provide greater access to investors who are residents of the State of Maryland.

Structure Maryland Statutes