Section 8-217 – Signing of Notes
(a) A bond anticipation note may not be issued under this Part III of this subtitle unless it is signed, endorsed, or guaranteed in the manner required by law for the bonds in anticipation of which the note is issued. (b) A bond or grant anticipation note is valid and binding in accordance with its terms notwithstanding […]
Section 8-201 – Definitions
(a) In this subtitle the following words have the meanings indicated, unless the context clearly requires otherwise. (b) (1) “Bond” means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a State unit under general or special statutory authority. (2) “Bond” includes: (i) a bond; (ii) a certificate of indebtedness; (iii) an interim […]
Section 8-202 – Scope of Subtitle
This subtitle does not apply to an entity that is governed by Title 19, Subtitles 1, 2, and 9 and Subtitle 6, Part I of the Local Government Article.
Section 8-205 – Form of Bonds
(a) A State unit authorized to issue bonds may issue bonds: (1) in coupon form; or (2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections. (b) Whenever a State unit provides for the […]
Section 8-206 – Public and Private Sales of Bonds
(a) (1) This section does not apply if the total principal amount of the authorized issue is $25,000 or less. (2) 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 […]
Section 8-207 – Simultaneous Issues
(a) This section does not apply to bonds issued under an enabling act that specifically states that this section does not apply. (b) Whenever a State unit simultaneously issues bonds authorized under 2 or more enabling acts, the State unit may allow submission of a bid that: (1) is for bonds authorized under 1 enabling act; and (2) is […]
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 8-209 – 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 8-210 – 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 […]