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Maryland Code, Local Government § 21-420

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

(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.

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Cite this article: FindLaw.com - Maryland Code, Local Government § 21-420 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-21-420/

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