Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Subtitle 1 - General Provisions
Section 19-101 - Consolidated Public Improvement Bonds - (a) (1) In authorizing the sale of municipal bonds, the...
Section 19-102 - Duties of County Financial Officer - (a) This section applies to a financial officer who is...
Section 19-103 - Security for Borrowing in Anne Arundel and Prince George's Counties - (a) (1) Any charter provision of Anne Arundel County or...
Section 19-104 - Calvert County -- Private Activity Bond Issuance Fee - The County Commissioners of Calvert County: (1) may charge a...
Section 19-105 - Frederick County -- Bond Rating Enhancement Reserve - The governing body of Frederick County shall establish and maintain...
Section 19-106 - Harford County -- Collateral for Deposit of Funds - Notwithstanding any other law, the pledge of any bonds or...
Subtitle 2 - Public Securities
Part I - Definitions
Section 19-201 - Definitions - (a) In this subtitle the following words have the meanings...
Part II - Conditions on Sale of Public Securities
Section 19-204 - Form of Bonds - (a) This section applies only to the following governmental entities:...
Section 19-205 - Public and Private Sale - (a) (1) Except as provided in paragraph (2) of this...
Section 19-206 - Maturity of Bond Issue - (a) (1) Except as provided in paragraph (2) of this...
Section 19-207 - Refunding Bonds - (a) This section applies only to the following governmental entities:...
Section 19-208 - Small Denominations - (a) (1) Except as provided in paragraph (2) of this...
Part III - Bond and Grant Anticipation Notes
Section 19-211 - Scope of Part - (a) Except as provided in subsection (b) of this section,...
Section 19-212 - Authority to Issue - (a) A governmental entity authorized to issue bonds may issue...
Section 19-213 - Ordinance or Resolution - (a) Bond and grant anticipation notes issued under this part...
Section 19-214 - Amount of Notes - (a) A governmental entity may not issue bond anticipation notes...
Section 19-215 - Written Commitment - Grant anticipation notes may not be sold under this part...
Section 19-216 - Signing of Notes - (a) A bond anticipation note may not be issued under...
Section 19-217 - Payment of Principal and Interest - (a) (1) The principal of and interest on bond anticipation...
Section 19-218 - Proceeds of Sale of Bond Anticipation Notes - The proceeds of sale of bond anticipation notes shall be...
Section 19-219 - Interest Rate Limit on Bonds - (a) (1) Except for the provisions of this section, each...
Section 19-220 - Commercial Paper - (a) A governmental entity may issue bond or grant anticipation...
Section 19-221 - Exemption From Taxation - The following obligations are exempt from State and local taxation:...
Part IV - Miscellaneous Provisions
Section 19-224 - Bonds to Be Considered Investment Securities - (a) This section applies only to the following governmental entities:...
Part V - Bond Proceeds Management
Section 19-227 - Definitions - (a) In this part the following words have the meanings...
Section 19-228 - Scope of Part - This part applies only to the following governmental entities: (1)...
Section 19-229 - Establishment of Funds; Management of Proceeds - (a) The financial officer may establish and maintain funds and...
Section 19-230 - Rebate Fund - (a) The financial officer may establish a separate rebate fund...
Section 19-231 - Filing of Reports - The financial officer may prepare and file with the appropriate...
Section 19-232 - Additional Authority - For purposes of doing whatever is necessary or appropriate to...
Section 19-233 - Bonds With Nonexcludable Interest - This part does not prevent the governing authority of a...
Part VI - Interest Rate Exchange Agreements
Section 19-236 - Interest Rate Exchange Agreement or Contracts - (a) Notwithstanding any other law and in addition to any...
Subtitle 3 - Creation of Public Debt -- Municipalities
Section 19-301 - Conflict With Charter; Authority to Adopt Charter Amendments and to Exercise Powers - (a) In its charter, each municipality may provide a procedure...
Section 19-302 - Authority to Borrow Money and Issue Bonds and Tax Anticipation Notes - (a) A municipality may: (1) borrow money for any public...
Section 19-303 - Procedures for Issuing Bonds - (a) The issuance of all bonds of a municipality shall...
Section 19-304 - Limitations on Authority to Issue Bonds and Tax Anticipation Notes - (a) (1) A municipality may not issue bonds that mature...
Section 19-305 - Negotiability of Bonds and Tax Anticipation Notes - All bonds and tax anticipation notes issued in accordance with...
Section 19-306 - Tax Status of Bonds and Tax Anticipation Notes - The principal of and interest on bonds or tax anticipation...
Section 19-307 - Investment of Sinking Fund and Bond Proceeds - (a) A fiscal officer of a municipality who has custody...
Section 19-308 - Liability for Bonds and Tax Anticipation Notes; Imposition of Taxes; Limits on Debt - (a) Except as provided in subsection (b) of this section,...
Section 19-309 - Effect of Subtitle - This subtitle does not impair any term or condition of...
Subtitle 4 - Creation of Public Debt -- Charter Counties
Section 19-401 - In General - Section 10–203 of this article applies to the creation of...
Subtitle 5 - Creation of Public Debt -- Code Counties
Section 19-501 - "Public Local Law" Defined - In this subtitle, “public local law” has the meaning stated...
Section 19-502 - Scope of Subtitle - This subtitle applies only to code counties.
Section 19-503 - Authority to Borrow Money and Issue Bonds - (a) A county may: (1) borrow money for any public...
Section 19-504 - Procedures for Issuing Bonds - (a) Except as provided in subsection (b) of this section,...
Section 19-505 - Limitations on Authority to Issue Bonds - (a) A county may not issue bonds that mature later...
Section 19-506 - Negotiability of Bonds - Any bonds issued in accordance with this subtitle shall be...
Section 19-507 - Tax Status of Bonds - The principal of and interest on bonds issued in accordance...
Section 19-508 - Investment of Sinking Fund and Bond Proceeds - (a) A county fiscal officer who has custody of a...
Section 19-509 - Liability for Bonds; Imposition of Taxes; Limits on Debt - (a) Except as provided in subsection (b) of this section,...
Section 19-510 - Effect of Subtitle - This subtitle does not impair any term or condition of...
Subtitle 6 - Creation of Public Debt -- Public Schools
Part I - Public Schools -- in General
Section 19-601 - Definitions - (a) In this part the following words have the meanings...
Section 19-602 - County Borrowing Authority - (a) (1) A county may borrow money and incur indebtedness...
Section 19-603 - Authorized Use of Proceeds - A county may expend the net proceeds of the sale...
Section 19-604 - Payment - (a) The principal of the notes may be paid from:...
Section 19-605 - Authorizing Resolution - (a) The notes shall be authorized by a resolution. (b)...
Section 19-606 - Security - (a) If the authorizing resolution provides, notes may be secured...
Section 19-607 - Exemption From Specific Provisions - A note is not subject to §§ 19–205 and 19–206...
Section 19-608 - Valid and Binding Obligations - A note is a valid and binding obligation of the...
Section 19-609 - Tax Exemption - The notes, the transfer of the notes, the interest payable...
Section 19-610 - Exemptions and Terms - (a) The authorizing resolution, and notes and agreements authorized under...
Section 19-611 - Agreements Between Counties - (a) (1) Except as provided in paragraph (2) of this...
Section 19-612 - Nature of Borrowing Authority - The authority to borrow money and issue notes granted to...
Part II - Charles County New School Capacity Construction Bonds
Section 19-615 - "New School Capacity Construction Bonds" Defined - New school capacity construction bonds” means 10–year bonds issued under...
Section 19-616 - Issuance of Bonds - (a) (1) The County Commissioners of Charles County may issue...
Subtitle 7 - Creation of Public Debt -- Public Libraries in Calvert County, Harford County, and St. Mary's County
Section 19-701 - Scope of Subtitle - This subtitle applies only to: (1) Calvert County; (2) Harford...
Section 19-702 - Authority to Borrow Money for Public Libraries - (a) The governing body of a county may borrow money...
Section 19-703 - Evidence of Indebtedness - The governing body of a county may: (1) issue bonds,...
Subtitle 8 - Creation of Public Debt -- Financing Residential Mortgages in Cecil County
Section 19-801 - "Program" Defined - In this subtitle, “program” means a residential mortgage program authorized...
Section 19-802 - Construction of Subtitle - A transaction under this subtitle is not a capital project...
Section 19-803 - Legislative Findings; Purpose of Subtitle - (a) The General Assembly finds that: (1) persons and families...
Section 19-804 - Enactment of Ordinance or Resolution Required - (a) By ordinance or resolution, the governing body of Cecil...
Section 19-805 - Powers of Cecil County - (a) (1) Notwithstanding any other law, Cecil County may issue...
Section 19-806 - Individual Mortgage Loans - (a) (1) A program shall require a down payment of...
Section 19-807 - Bonds; Use of Revenue - (a) (1) A bond issued under this subtitle: (i) shall...
Section 19-808 - Manner and Price of Sale of Bonds; Exemptions - (a) Cecil County shall sell bonds authorized under this subtitle...
Section 19-809 - Payment of Bonds - (a) A bond issued under this subtitle and the interest...
Section 19-810 - Conclusive Presumption of Finding by Cecil County - A finding made by Cecil County regarding a program or...
Section 19-811 - Tax Status - The principal amount of the bonds issued under this subtitle,...
Subtitle 9 - Pension Liability Funding Bonds
Section 19-901 - Definitions - (a) In this subtitle the following words have the meanings...
Section 19-902 - Scope of Subtitle; Application of Subtitle - (a) This subtitle applies only to: (1) charter counties; (2)...
Section 19-903 - Legislative Findings - The General Assembly finds that it is in the best...
Section 19-904 - Authority to Issue Pension Liability Funding Bonds - (a) A county or municipality that is authorized under law...
Section 19-905 - Conditions for Issuance - (a) Notwithstanding any State or local law to the contrary,...
Section 19-906 - Deposit of Funds - (a) The proceeds of pension liability funding bonds may be...
Section 19-907 - Findings of Public Purpose - In any proceeding involving the validity or enforceability of pension...
Section 19-908 - Exemptions - (a) Pension liability funding bonds, the transfer of the bonds,...
Subtitle 10 - Public Debt -- Grants and Loans for Septic Upgrades
Section 19-1001 - County Ability to Borrow Money and Incur Indebtedness - A county may borrow money and incur indebtedness through the...
Section 19-1002 - County Use of Net Proceeds From Sale of Notes Issue - A county may expend the net proceeds of the sale...
Section 19-1003 - Payment of Notes Principal and Interest -- Pledge of Full Faith and Credit by County - (a) The principal of the notes may be paid from:...
Section 19-1004 - County Authority to Borrow Money and Issue Notes - The authority to borrow money and issue notes granted to...