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ง 19-503. Authority To Borrow Money And Issue Bonds

ง 19-503. Authority to borrow money and issue bonds

   (a) General obligation bonds. -- A county may:

   (1) borrow money for any public purpose; and

   (2) issue and sell general obligation bonds to evidence the borrowing.

(b) Revenue bonds. -- By local law, a county may provide for the issuance of revenue bonds payable as to principal and interest solely from the revenues of one or more revenue-producing projects of the county.

(c) Bonds for sanitary facilities and bonds authorized by local law. -- Notwithstanding any other provision of this subtitle, a county may issue bonds:

   (1) for sanitary facilities as provided in the Environment Article; and

   (2) as authorized by local law in effect on the date the county adopts code home rule.

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Local Government
Maryland
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Larry Hogan
Larry Hogan
January 21, 2015 -
Republican
1-410-974-3400
100 State Circle, Annapolis, MD, 21401

Keywords
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