Maryland Statutes
Division I - State Finance
Title 8 - Debt

Subtitle 1 - General Obligation Debt

Part I - Definitions

Section 8-101 - Definitions - (a) In this subtitle the following words have the meanings...

Part II - Management Program

Section 8-104 - Definitions - (a) In this Part II of this subtitle the following...

Section 8-105 - Findings; Statement of Purpose - (a) The General Assembly finds that: (1) for many years,...

Section 8-106 - Construction of Part - This Part II of this subtitle shall be construed liberally...

Section 8-107 - Scope of Part - (a) This Part II of this subtitle applies only to...

Section 8-108 - Committee Established - There is a Capital Debt Affordability Committee in the Executive...

Section 8-109 - Membership of Committee - The Committee consists of the following 7 members: (1) 1...

Section 8-110 - Chairman of Committee - The Treasurer is the Chairman of the Committee.

Section 8-111 - Meetings of Committee - (a) The Chairman shall call meetings of the Committee as...

Section 8-112 - Duties of Committee - (a) The Committee shall review on a continuing basis the...

Section 8-113 - Preliminary Determinations of Governor - On or before November 1 of each year, after considering...

Section 8-114 - Consolidated Loan Budget - (a) The Department of Budget and Management annually shall prepare...

Part III - Authorization and Implementation

Section 8-117 - Enabling Acts - (a) The General Assembly may authorize the Board to: (1)...

Section 8-118 - General Powers and Duties of Board - (a) The Board shall exercise the powers and perform the...

Section 8-119 - Resolution of Board -- General Scope - (a) By 1 or more resolutions, the Board may provide...

Section 8-120 - Resolution of Board -- Specific Provisions - By resolution, the Board may provide that the State bonds...

Section 8-121 - Resolution of Board -- Form of State Bonds - (a) By resolution, the Board may specify the form in...

Section 8-122 - Resolution of Board -- Consolidated State and Local Facilities Loans - (a) By resolution, the Board may provide for all or...

Section 8-122.1 - Use of Funds on Sale of Bonds - (a) Upon sale of State bonds authorized by an enabling...

Section 8-123 - Public Sale of State Bonds - (a) Except as otherwise provided in this subtitle, the Board...

Section 8-123.1 - Sale of Capital Appreciation Bonds - (a) In accordance with the authority to issue capital appreciation...

Section 8-123.2 - Sale of Small Denomination Bonds - (a) In this section, “small denomination bonds” means bonds in...

Section 8-123.3 - College Savings Bonds - (a) In considering the structure of a State of Maryland...

Section 8-123.4 - Variable Interest Rate Bonds - (a) Except as provided in subsection (c) of this section,...

Section 8-124 - General Obligation Bonds - (a) Subject to the provisions of subsection (b) of this...

Section 8-125 - State and Local Facilities Loan Fund - (a) In this section, “Fund” means the State and Local...

Section 8-126 - Reduction of Authorization - (a) Whenever an appropriation from the General Fund is made...

Section 8-127 - Restrictions on Use - (a) Except as provided in § 8-129 of this subtitle,...

Section 8-128 - Termination of Authorization - (a) If, within 2 years after the date of an...

Section 8-129 - Unspent Proceeds - (a) With the approval of the Board, the Governor shall...

Section 8-130 - Adoption of Regulations - The Department of Budget and Management, with the approval of...

Section 8-131 - Refunding Outstanding Bonds - (a) Subject to the limitations in this section, the Board...

Section 8-131.1 - Establishment and Maintenance of Exclusion From Gross Income Interest on State Bonds - (a) (1) In this section the following words have the...

Section 8-131.2 - Exemption From Taxation - The State bonds, the transfer of State bonds, the interest...

Part IV - Debt Service

Section 8-132 - Annuity Bond Fund - (a) In this section, “Code” means the Internal Revenue Code...

Section 8-133 - State and Local Facilities Loan - (a) The source of payment for the principal of and...

Section 8-134 - State Tax on Property - (a) (1) Subject to the provisions of subsection (b) of...

Section 8-135 - Fiscal Agent - (a) In this section, “financial institution” has the meaning stated...

Section 8-136 - Interest Rate Exchange Agreements or Contracts - If the Board has authorized the transaction and approved the...

Part V - State Revenue Anticipation Notes

Section 8-138 - Authorized - Subject to the limitations in this Part V of this...

Section 8-139 - Notice Required - The Board shall give the President of the Senate and...

Section 8-140 - Total Loans - The loans outstanding under this Part V of this subtitle...

Section 8-141 - Interest Rates - The Board shall determine the interest rates on loans under...

Section 8-142 - Time for Repayment - (a) A loan under this Part V of this subtitle...

Part VI - Lost State Bonds and Coupons

Section 8-145 - Replacement - (a) Whenever the owner of a State bond or coupon...

Subtitle 2 - Debts of State Units

Part I - Definitions; Scope of Subtitle

Section 8-201 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-202 - Scope of Subtitle - This subtitle does not apply to an entity that is...

Part II - General Provisions

Section 8-205 - Form of Bonds - (a) A State unit authorized to issue bonds may issue...

Section 8-206 - Public and Private Sales of Bonds - (a) (1) This section does not apply if the total...

Section 8-207 - Simultaneous Issues - (a) This section does not apply to bonds issued under...

Section 8-208 - Maturity - (a) (1) This section does not apply to a bond...

Section 8-209 - Refunding Bonds - (a) Subject to the limitations in this section, with the...

Section 8-210 - Small Denominations - (a) A State unit authorized to issue bonds: (1) subject...

Section 8-211 - Exclusion of Interest From Gross Income for Federal Tax Purposes - (a) (1) In this section the following words have the...

Part III - Bond and Grant Anticipation Notes

Section 8-213 - Authority to Issue - (a) A State unit authorized to issue bonds may issue...

Section 8-214 - Resolution - (a) Bond and grant anticipation notes issued under this Part...

Section 8-215 - Amount of Notes - (a) A State unit may not issue bond anticipation notes...

Section 8-216 - Written Commitment for Grant - Grant anticipation notes may not be sold under this Part...

Section 8-217 - Signing of Notes - (a) A bond anticipation note may not be issued under...

Section 8-218 - Payment of Principal and Interest - (a) (1) The principal of and interest on bond anticipation...

Section 8-219 - Proceeds of Sale of Bond Anticipation Notes - The proceeds of sale of bond anticipation notes shall be...

Section 8-220 - Interest Rate Limit on Bonds - (a) (1) Except for the provisions of this section, each...

Section 8-221 - Commercial Paper - (a) A State unit may issue bond or grant anticipation...

Section 8-222 - Exemption From Taxation - The following obligations are exempt from State and local taxation:...

Subtitle 3 - Miscellaneous Provisions

Section 8-301 - Contract to Spend General Obligation Loan Proceeds - (a) Except as provided in subsection (b) of this section...

Section 8-302 - Bonds to Be Considered Investment Securities - (a) In this section, “bond” means an obligation of the...

Section 8-303 - Use of Appropriation for Reimbursement of Grant Recipient on or Before Effective Date of Enabling Act - (a) In this section, “enabling act” has the meaning stated...

Section 8-304 - Annual Report on Deferred Maintenance -- Information Included - (a) (1) In this section the following words have the...

Subtitle 4 - Capital Leases

Section 8-401 - Purpose - The purpose of this subtitle is to codify the authority...

Section 8-402 - Definitions - (a) In this subtitle the following terms have the meanings...

Section 8-403 - Authority to Enter Into Capital Lease; Financing Request - (a) The State Treasurer, with the approval of the Board...

Section 8-404 - Funding; Liability of State - A capital lease authorized under this subtitle: (1) shall be...

Section 8-405 - Payments on Lease - (a) Except for capital leases used to finance energy performance...

Section 8-406 - Disposition of Lease Proceeds - (a) (1) The State Treasurer may deposit the proceeds of...

Section 8-407 - Compliance With Internal Revenue Code; Exclusion of Interest From Gross Income - (a) (1) In this section the following words have the...

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Maryland Statutes Division I - State Finance Title 8 - Debt

Maryland Statutes
Division I - State Finance
Title 8 - Debt