Md. Code, Local Government § 21-515
This is the official text of Md. Code, Local Government § 21-515, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
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§21–515.
Official statutory text
Bond proceeds shall be used only to pay the cost of infrastructure improvements, including:
(1) the cost of establishing, acquiring, designing, constructing, extending, or altering infrastructure improvements;
(2) the cost of issuing bonds;
(3) payment of the principal of and interest on loans, money advances, or indebtedness incurred by the county for any purpose stated in § 21–504(a) of this subtitle, including refunding bonds previously issued; and
(4) funding of a debt service reserve fund or payment of interest before, during, or for a limited period of time after constructing the infrastructure improvements.
(1) the cost of establishing, acquiring, designing, constructing, extending, or altering infrastructure improvements;
(2) the cost of issuing bonds;
(3) payment of the principal of and interest on loans, money advances, or indebtedness incurred by the county for any purpose stated in § 21–504(a) of this subtitle, including refunding bonds previously issued; and
(4) funding of a debt service reserve fund or payment of interest before, during, or for a limited period of time after constructing the infrastructure improvements.
Status: in_force · Read it on the official government site
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