Maryland § 12-305
Full text of Maryland Maryland Code § 12-305, with citation guidance and answers to common questions.
§ 12-305.
(a) Except as provided in subsection (b) of this section, the ordinance or resolution described in § 12-303 of this subtitle may provide that a bond may be secured and made payable from any combination of:
(1) a pledge of the full faith and credit of the political subdivision and payable by taxes of general applicability;
(2) an increase in real property tax revenues that is attributable to increases in assessed value in designated blighted areas resulting from carrying out the purposes for which the bond is issued;
(3) revenues of the project or undertaking for which the bond is issued;
(4) proceeds of bonds; or
(5) other money that may be legally made available to pay the bond.
(b) A bond issued by Baltimore City may not be secured under subsection (a)(2) of this section.
Frequently Asked Questions About Maryland § 12-305
What does Maryland Code § 12-305 cover?
Section 12-305 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 § 12-305?
A common citation format is "Maryland Code § 12-305" (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 § 12-305 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.