Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) A bond issued under this subtitle and the interest on the bond are limited obligations of Cecil County.
(b) Cecil County may pay the principal of and interest on a bond issued under this subtitle only from:
(1) revenues derived from interest, mortgage insurance proceeds, casualty or special hazard insurance proceeds, other insurance proceeds, or condemnation proceeds; or
(2) other revenues derived from or related to loans made under a program.
(c) Bonds and interest coupons issued under this subtitle:
(1) are not debts or charges against the general credit or taxing powers of Cecil County within the meaning of any constitutional or county code provision or statutory limitation; and
(2) do not give rise to any pecuniary liability of the county.
(d) On the advice of counsel, Cecil County may state on the face of a bond that the bond:
(1) is issued under this subtitle; and
(2) is not an indebtedness to which the faith and credit of the county is pledged.
Cite this article: FindLaw.com - Maryland Code, Local Government § 19-809 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-19-809/
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 before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)