(a) A bond issued under this subtitle:
(1) Is not a pledge of the faith and credit of this State or any of its political subdivisions; and
(2) Shall say on its face that neither the faith and credit of this State nor the faith and credit of any of its political subdivisions is pledged to the payment of the principal of or interest on the bond.
(b) The issuance of a bond under this subtitle does not obligate this State or any of its political subdivisions directly, indirectly, or contingently:
(1) To levy any tax; or
(2) To make any appropriation for payment of the bonds, except from funds pledged in accordance with this subtitle.
Structure Maryland Statutes
Title 9 - Water, Ice, and Sanitary Facilities
Subtitle 9 - Water and Sewer Authorities
Part IV - Bonds of Authorities
Section 9-928 - Purpose of Bonds
Section 9-929 - Nonapplicability of Other Laws
Section 9-930 - Bonds Not Pledge of Faith and Credit of State or Political Subdivision
Section 9-931 - Bonds Constitute Legal Investments
Section 9-932 - Power to Issue and Secure Bonds
Section 9-933 - Issuance and Sale of Bonds -- Generally
Section 9-935 - Temporary and Lost Bonds
Section 9-936 - Limitations on Issuance of Additional Bonds
Section 9-937 - Refunding Bonds; Joint Cost and Refunding Bonds
Section 9-938 - Securing Bonds by Resolution or Trust Agreement
Section 9-939 - Contents and Effect of Resolution or Trust Agreement
Section 9-940 - Holder of Bonds May Protect and Enforce Rights
Section 9-941 - Principal and Interest; Maturity; Form; Negotiability; Registration; Reconversion