Maryland § 18-208
Full text of Maryland Maryland Code § 18-208, with citation guidance and answers to common questions.
§ 18-208.
(a) (1) The Commission may borrow money to meet its expenses, including debt service for any bonds issued under this title, within either county by issuing tax anticipation notes.
(2) The tax anticipation notes shall:
(i) bear interest at an annual rate that the Commission determines to be advantageous and in the public interest; and
(ii) be signed by the chair and secretary–treasurer of the Commission by manual or facsimile signature.
(3) The tax anticipation notes may be issued to any bank, institution, or person willing to lend the money.
(b) The Commission may reissue or renew its tax anticipation notes at an interest rate that the Commission determines to be advantageous.
(c) The total amount borrowed under this section and outstanding in any fiscal year may not exceed 75% of the total revenues received by the Commission from the taxes imposed and derived during the Commission’s preceding fiscal year under this title.
(d) Money borrowed during any fiscal year shall be repaid not later than during the next fiscal year from the revenues derived from the taxes under this title.
Frequently Asked Questions About Maryland § 18-208
What does Maryland Code § 18-208 cover?
Section 18-208 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 § 18-208?
A common citation format is "Maryland Code § 18-208" (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 § 18-208 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.