Maryland Code, LOCAL GOVERNMENT 21-420
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Terms Used In Maryland Code, LOCAL GOVERNMENT 21-420
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(a) Bonds are payable from the special fund required under § 21-412 of this subtitle.
(b) The governing body of a municipality that issues bonds under this part may:
(1) establish a sinking fund;
(2) establish a debt service reserve fund;
(3) pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
(4) provide for municipal bond insurance or any other financial guaranty of the bonds.