Maryland § 18-114
Full text of Maryland Maryland Code § 18-114, with citation guidance and answers to common questions.
§ 18-114.
(a) To carry out the purposes of this subtitle, an authority may issue revenue bonds to finance the cost of:
(1) acquiring property; or
(2) establishing, constructing, altering, improving, or equipping a facility.
(b) Each bond issue shall be authorized by a resolution approved by a vote of at least four members of the authority.
(c) An authority shall determine that a bond issue is necessary to achieve one or more of the authority’s purposes before issuing bonds under this section.
(d) The resolution authorizing the bond issue shall include:
(1) the determination that a bond issue is necessary;
(2) a statement that the authority will acquire the vehicle parking facility or related project in accordance with this subtitle and local law;
(3) a determination of the probable useful life of the project or average probable useful life of the projects to be financed;
(4) an estimate of the cost of the project to be financed and the portion to be defrayed from any sources that shall be specifically named, other than the proposed bond issue;
(5) the procedure for the sale of the proposed bond issue;
(6) a description sufficient for purposes of identification of each of the projects to be financed by the bond issue; and
(7) a finding that the amount of the proposed bond issue is sufficient to complete at least a useful portion of each project to be financed.
(e) Notwithstanding any other provision of the Code or any recitals of the bond, the bonds are negotiable instruments.
Frequently Asked Questions About Maryland § 18-114
What does Maryland Code § 18-114 cover?
Section 18-114 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 § 18-114?
A common citation format is "Maryland Code § 18-114" (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 § 18-114 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.