Section 8-141 – Interest Rates
The Board shall determine the interest rates on loans under this Part V of this subtitle.
Section 8-142 – Time for Repayment
(a) A loan under this Part V of this subtitle in anticipation of proceeds of a sale of State bonds shall be repaid within 180 days after the date of the loan. (b) A loan under this Part V of this subtitle in anticipation of tax receipts shall be repaid within 180 days after the date of […]
Section 8-128 – Termination of Authorization
(a) If, within 2 years after the date of an authorization of State debt, evidence that a required matching fund will be provided has not been presented to the Board or no part of the project or program for which the enabling act authorized the State debt is under contract and the Board has not encumbered […]
Section 8-118 – General Powers and Duties of Board
(a) The Board shall exercise the powers and perform the duties that the General Assembly delegates to the Board in connection with: (1) the creation of State debt; (2) the determination of interest on and other terms and conditions of the State debt; (3) the preparation of State bonds that evidence the State debt; (4) notice of a sale of […]
Section 8-129 – Unspent Proceeds
(a) With the approval of the Board, the Governor shall dispose of unspent proceeds of an enabling act within 1 year after the termination of the State debt authorization under § 8-128 of this subtitle. (b) The Governor shall: (1) use the proceeds to reduce State debt authorizations, as provided in § 8-126(b) through (d) of this subtitle; […]
Section 8-119 – Resolution of Board — General Scope
(a) By 1 or more resolutions, the Board may provide for the terms, conditions, security, issuance, sale, delivery, replacement, or payment of the State bonds authorized by an enabling act. (b) Unless the enabling act provides otherwise, the Board shall use the procedures set forth in §§ 8-117 through 8-124 of this subtitle for the issuance and […]
Section 8-130 – Adoption of Regulations
The Department of Budget and Management, with the approval of the Board, shall adopt regulations in accordance with Title 10, Subtitle 1 of the State Government Article to implement the provisions of §§ 8-128 and 8-129 of this subtitle.
Section 8-120 – Resolution of Board — Specific Provisions
By resolution, the Board may provide that the State bonds authorized by an enabling act: (1) be in 1 or more series; (2) bear a certain date of issue; (3) be executed in a certain manner; (4) be sold in a certain manner at public or private, negotiated sale; (5) be in certain denominations, not necessarily in equal paramounts; (6) mature […]
Section 8-131 – Refunding Outstanding Bonds
(a) Subject to the limitations in this section, the Board of Public Works 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) The Board may issue bonds under this section only for: (1) the public purpose of realizing for the […]
Section 8-121 – Resolution of Board — Form of State Bonds
(a) By resolution, the Board may specify the form in which State bonds are to be issued, including: (1) a coupon form; (2) a capital appreciation form; (3) a variable interest rate form; (4) a form that qualifies for tax credits, interest subsidies, or other federal tax benefits; (5) a form that qualifies as a registered form under §§ 54A, 103, […]