Md. Code, Economic Development § 12-206
This is the official text of Md. Code, Economic Development § 12-206, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
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§12–206.
Official statutory text
(a) Bonds shall be payable from the special fund established under § 12–208 of this subtitle.
(b) The governing body of the political subdivision or the issuer may:
(1) pledge its full faith and credit or other assets and revenues to pay the bonds; and
(2) establish a sinking fund or a debt service reserve fund for the bonds.
(c) The assets and revenues pledged under subsection (b)(1) of this section may include any amount that the political subdivision may receive from the State under § 2–222 of the Tax – Property Article.
(b) The governing body of the political subdivision or the issuer may:
(1) pledge its full faith and credit or other assets and revenues to pay the bonds; and
(2) establish a sinking fund or a debt service reserve fund for the bonds.
(c) The assets and revenues pledged under subsection (b)(1) of this section may include any amount that the political subdivision may receive from the State under § 2–222 of the Tax – Property Article.
Status: in_force · Read it on the official government site
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