Terms Used In Maryland Code, LOCAL GOVERNMENT 19-221

  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
The following obligations are exempt from State and local taxation:

(1) a bond or grant anticipation note issued under this part;

(2) a bond issued to pay the notes issued under item (1) of this section; and

(3) the interest on the obligations.