Maryland Code, LOCAL GOVERNMENT 19-201
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Terms Used In Maryland Code, LOCAL GOVERNMENT 19-201
- 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.
- 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.
(a) In this subtitle the following words have the meanings indicated.
(b) (1) “Bond” means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a governmental entity under general or special statutory authority.
(2) “Bond” includes:
(i) a bond;
(ii) a certificate of indebtedness;
(iii) an interim certificate; and
(iv) a note.
(c) “Enabling act” means a law that authorizes a governmental entity to create a debt and sell bonds to evidence that debt.