Maryland Code, LOCAL GOVERNMENT 21-210
Terms Used In Maryland Code, LOCAL GOVERNMENT 21-210
- 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.
- 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
(b) The purpose of this section is to provide an alternative means to finance projects on a countywide basis, for which the governing body of the county does not sit as a district council.
(c) (1) The governing body of a county may pay not more than 25% of the cost of any project in the county through the issuance of bonds, notes, or other evidence of indebtedness.
(2) If the governing body pays for a portion of a project under this subsection, the governing body may accept any of the remaining cost of the project from:
(i) the State;
(ii) the federal government; or
(iii) any unit of the State or federal government.
(d) (1) Except as provided in paragraph (2) of this subsection, any bond, note, or other evidence of indebtedness issued under this section shall be issued as provided in this subtitle.
(2) Any bond, note, or other evidence of indebtedness issued under this section:
(i) is not a district obligation; and
(ii) shall have its payments of principal and interest met by a countywide tax.