Maryland § 19-505
Full text of Maryland Maryland Code § 19-505, with citation guidance and answers to common questions.
§ 19-505.
(a) A county may not issue bonds that mature later than 40 years after the date of issue.
(b) A county may issue bonds only for cash.
(c) A county may not sell bonds at less than par value.
(d) If a legally sufficient referendum petition on a public local law authorizing the issuance of bonds is properly filed with the county board of elections, the bonds may be issued only if the public local law is approved by a majority of the voters voting on the question.
(e) Any bonds sold by a county are subject to §§ 19–205 and 19–206 of this title, unless the public local law authorizing the bonds provides a specific exemption.
Frequently Asked Questions About Maryland § 19-505
What does Maryland Code § 19-505 cover?
Section 19-505 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 § 19-505?
A common citation format is "Maryland Code § 19-505" (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 § 19-505 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.