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Maryland Code, State Finance and Procurement § 8-201

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

(a) In this subtitle the following words have the meanings indicated, unless the context clearly requires otherwise.

(b)(1) “Bond” means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a State unit under general or special statutory authority.

(2) “Bond” includes:

(i) a bond;

(ii) a certificate of indebtedness;

(iii) an interim certificate; and

(iv) a note.

(c) “Enabling act” means a law that authorizes a State unit to create a debt and to sell bonds to evidence that debt.

(d) “Resolution” means a resolution or other evidence of official action customarily used by a State unit.

(e)(1) “State unit” means a unit or instrumentality of the State.

(2) “State unit” does not include the State.

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Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 8-201 - last updated December 31, 2021 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-8-201/

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