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Maryland Code, Local Government § 19-606

Current as of December 31, 2021 | Updated by FindLaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Local Government § 19-606 - last updated December 31, 2021 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-19-606.html

Read this complete Maryland Code, Local Government § 19-606 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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