Maryland § 1-1106
Full text of Maryland Maryland Code § 1-1106, with citation guidance and answers to common questions.
§ 1-1106.
(a) A county or municipality may issue bonds to finance loans made through a program.
(b) To issue a bond, a county or municipality shall adopt an ordinance or a resolution that specifies the maximum principal amount of the bond.
(c) In the ordinance or resolution, the county or municipality may:
(1) specify the items listed in subsection (d) of this section;
(2) authorize the finance board of the county or municipality to specify those items by ordinance or resolution; or
(3) authorize the chief executive to specify those items by executive order.
(d) For each issuance of a bond, the county or municipality may specify:
(1) the principal amount;
(2) the interest rate or, for floating or variable rates of interest, the method to determine the interest rate;
(3) the manner and terms of sale, including whether by competitive or negotiated sale;
(4) the time of execution, issuance, and delivery;
(5) the form and denomination;
(6) the source, manner, times, and places to pay principal or interest;
(7) conditions for redemption before maturity;
(8) the purposes for which proceeds may be spent;
(9) the source of security; and
(10) other provisions that are necessary or desirable to effect the program.
Frequently Asked Questions About Maryland § 1-1106
What does Maryland Code § 1-1106 cover?
Section 1-1106 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 1-1106?
A common citation format is "Maryland Code § 1-1106" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 1-1106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.