Maryland § 10-514
Full text of Maryland Maryland Code § 10-514, with citation guidance and answers to common questions.
§ 10-514.
(a) (1) This section does not prevent the Corporation from pledging its full faith and credit to the payment of a bond.
(2) This section does not limit the ability of the State or a political subdivision to impose an assessment, rate, fee, or charge to pay to the Corporation any cost, including the principal of and interest on a bond, under an agreement between the Corporation and the State or political subdivision.
(b) (1) A bond:
(i) is not a debt, liability, or a pledge of the full faith and credit of the State or of any political subdivision; and
(ii) is payable solely from revenues provided under this subtitle.
(2) The issuance of a bond is not directly, indirectly, or contingently a moral or other obligation of the State or a political subdivision to levy or pledge any tax or to make an appropriation to pay the bond.
(3) Each bond shall state on its face that:
(i) neither the State nor a political subdivision, other than the Corporation, is obliged to pay the principal of or interest on the bond, except from revenues pledged to payment of the bond; and
(ii) neither the full faith and credit nor the taxing power of the State or a political subdivision is pledged to the payment of the principal of or interest on the bond.
Frequently Asked Questions About Maryland § 10-514
What does Maryland Code § 10-514 cover?
Section 10-514 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 § 10-514?
A common citation format is "Maryland Code § 10-514" (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 § 10-514 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.