§ 19-606
102 words·~1 min read·
/md/local-government/19-606·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§19–606.
(a)If the authorizing resolution provides, notes may be secured by:
(1)a trust indenture with a corporate trustee, which may be any trust company or bank having the powers of a trust company in or outside the State; and
(2)a letter of credit, line of credit, or other credit or liquidity instrument from or with a bank or other lending institution.
(b)A security provided by an authorizing resolution under this section may be secured by the same security given to holders of the notes for the performance by a county of the county’s monetary obligations under the notes.