Section 8-208 – Maturity
(a) (1) This section does not apply to a bond that: (i) matures within 1 year after the date of issue and is issued: 1. in anticipation of tax receipts; 2. to meet current expenses; or 3. to meet an emergency; (ii) is sold to the United States or a unit or instrumentality of the United States; (iii) is issued under a plan […]
Section 8-133 – State and Local Facilities Loan
(a) The source of payment for the principal of and interest on each State bond that is sold as part of a State and local facilities loan shall be as provided in the enabling act under which the State bond is issued. (b) This section does not affect any exemption from taxation provided by law.
Section 8-209 – Refunding Bonds
(a) Subject to the limitations in this section, with the approval of the Board of Public Works, a State unit authorized to issue bonds may issue new bonds to refund its outstanding bonds. (b) The power to issue bonds under this section is in addition to any other power to borrow. (c) A State unit may issue bonds […]
Section 8-134 – State Tax on Property
(a) (1) Subject to the provisions of subsection (b) of this section, on or before May 1 of each year, the Board shall certify to the governing body of each county the rates of State tax on assessable property needed to meet the debt service requirements during the next taxable year on all the State bonds that […]
Section 8-210 – Small Denominations
(a) A State unit authorized to issue bonds: (1) subject to the limitations in this section and notwithstanding any other law, if the State unit determines that it is in the public interest, may issue and sell the bonds in denominations of less than $1,000, in any form; and (2) subject to any other provision of law, may […]
Section 8-135 – Fiscal Agent
(a) In this section, “financial institution” has the meaning stated in § 6-201 of this article. (b) The Treasurer may appoint any financial institution as a fiscal agent. (c) During its agency, the fiscal agent shall be covered by a surety bond in the form and amount required by law. (d) (1) In accordance with the procedures that the Treasurer […]
Section 8-136 – Interest Rate Exchange Agreements or Contracts
If the Board has authorized the transaction and approved the form of the agreement, to improve the management of State general obligation debt or to reduce the cost of servicing such debt, and after giving due consideration to the creditworthiness of the counterparties, the Treasurer may: (1) enter into interest rate exchange agreements or contracts providing […]
Section 8-138 – Authorized
Subject to the limitations in this Part V of this subtitle, and at the direction of the Board, the Treasurer may borrow money, on the credit of the State, in anticipation of: (1) tax receipts, as set forth in the revenue estimates that support an enacted State budget; or (2) proceeds of a sale of State bonds.
Section 8-139 – Notice Required
The Board shall give the President of the Senate and the Speaker of the House of Delegates at least 10 days’ prior notice of a loan under this Part V of this subtitle.
Section 8-140 – Total Loans
The loans outstanding under this Part V of this subtitle may not exceed a total principal amount of $100,000,000.