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, […]
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 meanings indicated. (2) “Code” means the Internal Revenue Code of 1986 and includes regulations and rulings issued under that Code. (3) “Proceeds” means money received from the sale of State bonds, and includes any money deemed to be proceeds of State bonds under the Code. (b) The Treasurer and the […]
Section 8-122 – Resolution of Board — Consolidated State and Local Facilities Loans
(a) By resolution, the Board may provide for all or part of the State bonds authorized by 2 or more enabling acts to be consolidated and sold as a single issue. However, the Board may not include in a consolidated issue any State bonds authorized by an enabling act that specifically exempts the State bonds from […]
Section 8-122.1 – Use of Funds on Sale of Bonds
(a) Upon sale of State bonds authorized by an enabling act, the principal amount of the loan authorized by that enabling act shall be reduced by: (1) the stated principal amount of the State bonds sold, if the bonds are sold at 95% or more of par; or (2) the cash proceeds, excluding any accrued interest, received for […]
Section 8-123 – Public Sale of State Bonds
(a) Except as otherwise provided in this subtitle, the Board shall offer State bonds at a public sale. (b) (1) At least 10 days before the date of a public sale, the Board shall give public notice of the sale. (2) The notice shall state the date, time, and place of the public sale. (c) (1) Except as provided in paragraph […]
Section 8-123.1 – Sale of Capital Appreciation Bonds
(a) In accordance with the authority to issue capital appreciation bonds under § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of any State bond issue, may designate that all or a portion of the State bonds be issued as capital appreciation bonds. (b) The Board may sell the capital […]
Section 8-123.2 – Sale of Small Denomination Bonds
(a) In this section, “small denomination bonds” means bonds in denominations of $5,000 or less. (b) In accordance with § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of any State bond issue, may designate that all or a portion of the State bonds be issued as small denomination bonds. […]
Section 8-123.3 – College Savings Bonds
(a) In considering the structure of a State of Maryland capital appreciation general obligation bond issue, the Board of Public Works shall be sensitive to the need to help Maryland citizens save for the costs of college. (b) The Maryland College Savings Bond Advisory Board, created under § 20-101 of the Education Article, shall make recommendations to […]
Section 8-123.4 – Variable Interest Rate Bonds
(a) Except as provided in subsection (c) of this section, in accordance with the authority to issue variable interest rate bonds under § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of a State bond issue, may designate that all or a portion of the State bonds be issued […]
Section 8-124 – General Obligation Bonds
(a) Subject to the provisions of subsection (b) of this section, it is the policy of the State that the preferred method of sale of general obligation bonds of the State by the Board is by public, competitive sale. (b) The Board may offer the sale of general obligation bonds of the State at a private, negotiated […]