Md. Code, Local Government § 19-805
This is the official text of Md. Code, Local Government § 19-805, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§19–805.
Official statutory text
(a) (1) Notwithstanding any other law, Cecil County may issue revenue bonds, notes, or other evidence of indebtedness to accomplish the purposes of this subtitle.
(2) The county may use money borrowed under this subtitle to make funds available, directly or through mortgage lending institutions, for residential mortgage loans by:
(i) forward commitment mortgage purchases;
(ii) existing mortgage purchases;
(iii) loans to lenders;
(iv) a revolving mortgage fund; or
(v) any other manner the county considers appropriate.
(3) (i) The county may issue new bonds to provide funds for the payment of any outstanding bonds in accordance with this subtitle and § 19–207 of this title.
(ii) The new bonds shall be secured to the same extent and have the same source of payment as the refunded bonds.
(b) The amount borrowed under this subtitle may not exceed $35,000,000 in the total aggregate amount.
(c) Cecil County may collect participation charges to cover loan processing, loan administration, mortgage insurance, and other costs and expenses of a program from a borrower participating in the program.
(d) A program may provide for:
(1) loan agreements;
(2) security agreements;
(3) loan servicing agreements;
(4) forms of mortgages, notes, and deeds of trust; and
(5) other appropriate securities, documents, agreements, and provisions.
(2) The county may use money borrowed under this subtitle to make funds available, directly or through mortgage lending institutions, for residential mortgage loans by:
(i) forward commitment mortgage purchases;
(ii) existing mortgage purchases;
(iii) loans to lenders;
(iv) a revolving mortgage fund; or
(v) any other manner the county considers appropriate.
(3) (i) The county may issue new bonds to provide funds for the payment of any outstanding bonds in accordance with this subtitle and § 19–207 of this title.
(ii) The new bonds shall be secured to the same extent and have the same source of payment as the refunded bonds.
(b) The amount borrowed under this subtitle may not exceed $35,000,000 in the total aggregate amount.
(c) Cecil County may collect participation charges to cover loan processing, loan administration, mortgage insurance, and other costs and expenses of a program from a borrower participating in the program.
(d) A program may provide for:
(1) loan agreements;
(2) security agreements;
(3) loan servicing agreements;
(4) forms of mortgages, notes, and deeds of trust; and
(5) other appropriate securities, documents, agreements, and provisions.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.