Section 19-111 – Construction of Title
(a) The provisions of this title, being necessary for the welfare of the State and its inhabitants, shall be liberally construed to effect the purposes thereof. (b) The provisions of this title are severable, and if any of such provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of such court shall not […]
Section 19-112 – Short Title
This title may be referred to as the Auxiliary and Academic Facilities Bond Authority.
Section 20-101 – Established; Purposes; Members; Chair
(a) (1) There is a Maryland College Savings Bond Advisory Board. (2) The purpose of the Board is to advise the Board of Public Works on the issuance of college savings bonds authorized under § 8–123.3 of the State Finance and Procurement Article. (b) The Board shall consist of the following four members: (1) The State Treasurer; (2) The Secretary of […]
Section 20-102 – Duties
(a) (1) The Maryland College Savings Bond Advisory Board shall make recommendations to: (i) The Board of Public Works regarding the need for Maryland capital appreciation general obligation bonds to help citizens save for the costs of college; and (ii) In accordance with § 2–1257 of the State Government Article, the Governor and General Assembly on the establishment of […]
Section 18-3704 – Annual Budget Appropriation
** TAKES EFFECT JULY 1, 2022 PER CHAPTER 59 OF 2021 ** The Governor shall include an annual appropriation of at least $1,500,000 in the State budget for the Program.
Section 19-108 – Refunding Bonds
(a) A system may provide by resolution for the issuance of bonds for the purpose of refunding any bonds or refunding bonds then outstanding including the payment of any redemption premium and any interest accrued or to accrue to the date of redemption of the bonds and any issuance costs of refunding bonds. (b) The provisions of […]
Section 18-3705 – Annual Report on Implementation
** TAKES EFFECT JULY 1, 2022 PER CHAPTER 59 OF 2021 ** Subject to § 2–1257 of the State Government Article, the Office shall report to the General Assembly by January 1 each year on the implementation of the Program.
Section 19-109 – Bonds as Securities
(a) Bonds issued under the provisions of this title are securities in which all of the following may legally and properly invest funds, including capital in their control or belonging to them: (1) Public officers and public agencies of the State and its political subdivisions; (2) Banks, trust companies, savings and loan associations, investment companies, and others carrying […]
Section 18-3801 – Definitions
** TAKES EFFECT JULY 1, 2022 PER CHAPTER 59 OF 2021 ** (a) In this subtitle the following words have the meanings indicated. (b) “Eligible institution” means a public senior higher education institution in the State. (c) “Police officer” has the meaning stated in § 3–201 of the Public Safety Article. (d) “Service obligation” means to work as a […]
Section 19-110 – Title to Property; Use of State Lands
(a) The title to any property acquired or constructed under the provisions of this title shall be in the State of Maryland for the use of a system. (b) The State consents to the use of any lands owned by it for the use of a system which may be suitable and necessary for the construction or […]