Maryland Code, Environment § 9-930

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) A bond issued under this subtitle:

(1) Is not a pledge of the faith and credit of this State or any of its political subdivisions; and

(2) Shall say on its face that neither the faith and credit of this State nor the faith and credit of any of its political subdivisions is pledged to the payment of the principal of or interest on the bond.

(b) The issuance of a bond under this subtitle does not obligate this State or any of its political subdivisions directly, indirectly, or contingently:

(1) To levy any tax; or

(2) To make any appropriation for payment of the bonds, except from funds pledged in accordance with this subtitle.

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Cite this article: FindLaw.com - Maryland Code, Environment § 9-930 - last updated January 01, 2025 | https://codes.findlaw.com/md/environment/md-code-envir-sect-9-930/

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