Maryland § 10-655
Full text of Maryland Maryland Code § 10-655, with citation guidance and answers to common questions.
§ 10-655.
(a) There is an Ocean City Convention Financing Fund.
(b) (1) The Ocean City Convention Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle relating to the Ocean City Convention facility.
(2) The Authority shall:
(i) use the Ocean City Convention Fund as a revolving fund for implementing this subtitle relating to the Ocean City Convention facility; and
(ii) pay any and all expenses incurred by the Authority concerning the Ocean City Convention facility from the Ocean City Convention Fund.
(c) (1) To the extent considered appropriate by the Authority, the receipts of the Ocean City Convention Fund shall be pledged to and charged with the following relating to the Ocean City Convention facility:
(i) the payment of debt service on Authority bonds;
(ii) all reasonable charges and expenses related to Authority borrowing; and
(iii) the management of Authority obligations.
(2) The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority provision.
(d) The Ocean City Convention Fund consists of:
(1) funds appropriated for deposit to the Ocean City Convention Fund;
(2) proceeds from the sale of bonds concerning the Ocean City Convention facility;
(3) revenues collected or received from any source under this subtitle concerning Ocean City Convention facilities; and
(4) any additional money made available from any public or private sources for the purposes established for the Ocean City Convention Fund.
(e) (1) The Treasurer shall invest the money of the Ocean City Convention Fund in the same manner as State funds.
(2) Any investment earnings shall be credited to the Ocean City Convention Fund.
(3) No part of the Ocean City Convention Fund may revert or be credited to the General Fund or any special fund of the State.
Frequently Asked Questions About Maryland § 10-655
What does Maryland Code § 10-655 cover?
Section 10-655 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 § 10-655?
A common citation format is "Maryland Code § 10-655" (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 § 10-655 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.