Maryland Code, LOCAL GOVERNMENT 17-104
Terms Used In Maryland Code, LOCAL GOVERNMENT 17-104
- County: means a county of the State or Baltimore City. See
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- including: means includes or including by way of illustration and not by way of limitation. See
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) the governing body of each county;
(2) the governing body or chief fiscal or administrative officer of each municipality;
(3) the governing body or chief fiscal or administrative officer of:
(i) each road, drainage, improvement, construction, or soil conservation district or commission; or
(ii) the Upper Potomac River Commission;
(4) each county board of education, including the Baltimore City Board of School Commissioners;
(5) any other political subdivision or body politic and corporate of the State;
(6) a unit of a political subdivision of the State; and
(7) the trustees or other officers in charge of a pension or retirement system or fund of:
(i) the State;
(ii) a political subdivision of the State; or
(iii) a unit of the State or of a political subdivision of the State.
(b) Notwithstanding any other law, when a governmental entity is required or authorized to invest in, purchase, or take as collateral a bond, an obligation, or any other evidence of indebtedness of the United States, the governmental entity may invest in, purchase, or take as collateral an obligation or security of or other interest in an open-end or closed-end management type investment company or investment trust registered under the federal Investment Company Act of 1940, 15 U.S.C. § 80A-1 et seq., if:
(1) the portfolio of the investment company or investment trust is limited to:
(i) direct obligations of the United States; and
(ii) repurchase agreements that are fully collateralized by obligations of the United States; and
(2) the investment company or investment trust takes delivery of the collateral directly or through an authorized custodian.