Terms Used In Maryland Code, TRANSPORTATION 3-206

  • 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
The bonds, notes, and other evidences of obligation issued under this subtitle and their issuance and sale are exempt from the provisions of §§ 8-206 and 8-208 of the State Finance and Procurement Article.
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