§ 21-420
75 words·~1 min read·
/md/local-government/21-420A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§21–420.
(a)Bonds are payable from the special fund required under § 21–412 of this subtitle.
(b)The governing body of a municipality that issues bonds under this part may:
(1)establish a sinking fund;
(2)establish a debt service reserve fund;
(3)pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
(4)provide for municipal bond insurance or any other financial guaranty of the bonds.