§ 8-120
117 words·~1 min read·
/md/state-finance-and-procurement/8-120·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§8–120.
By resolution, the Board may provide that the State bonds authorized by an enabling act:
(1)be in 1 or more series;
(2)bear a certain date of issue;
(3)be executed in a certain manner;
(4)be sold in a certain manner at public or private, negotiated sale;
(5)be in certain denominations, not necessarily in equal paramounts;
(6)mature in certain amounts at certain times, not necessarily in consecutive annual installments, but not later than 15 years after their respective dates of issue;
(7)bear interest at certain rates or at rates to be determined in the manner stated in the resolution; and
(8)be paid, as to principal and interest, at certain places.