Section 8-131.2 – Exemption From Taxation
The State bonds, the transfer of State bonds, the interest payable on State bonds, and any income derived from State bonds, including profit realized in the sale or exchange of State bonds, are exempt from State and local taxes.
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 […]
Section 8-125 – State and Local Facilities Loan Fund
(a) In this section, “Fund” means the State and Local Facilities Loan Fund. (b) For bonds issued under § 8-122 of this subtitle, the Comptroller shall establish: (1) the State and Local Facilities Loan Fund; (2) a premium and expense account in the Fund; and (3) for accounting purposes only: (i) a capital project account for each enabling act; and (ii) separate […]
Section 8-126 – Reduction of Authorization
(a) Whenever an appropriation from the General Fund is made in the State budget and is spent to finance any part of a project or program for which an enabling act authorizes State debt, the total State debt authorized by the enabling act is reduced by the lesser of: (1) the amount of the appropriation; or (2) the […]
Section 8-127 – Restrictions on Use
(a) Except as provided in § 8-129 of this subtitle, the proceeds of a sale of State bonds may be used only in the manner and for a project or program that is specified in an enabling act authorizing the issuance of State bonds. (b) (1) Except as provided in § 8-129 of this subtitle, the proceeds of […]