Maryland § 21-209
Full text of Maryland Maryland Code § 21-209, with citation guidance and answers to common questions.
§ 21-209.
(a) The district council may borrow money, on the full faith and credit of the district, to:
(1) acquire by purchase or condemnation an easement under § 21–208 of this subtitle to construct a project in or for the district; and
(2) complete the project.
(b) (1) The money borrowed by the district council for a project shall:
(i) bear interest at a rate set by the district council not exceeding 6% per year;
(ii) be payable semiannually; and
(iii) be secured by bonds, notes, or other evidence of indebtedness issued by the district council on the full faith and credit of the district.
(2) Subject to § 21–212(e)(2) of this subtitle, the bonds, notes, or other evidence of indebtedness issued under this subsection shall:
(i) be exempt from State, county, and municipal taxation;
(ii) mature serially at the times determined by the district council, not to exceed 30 years;
(iii) be made payable within 30 years after issuance; and
(iv) be issued under the seal of the county.
(3) Notwithstanding §§ 19–205 and 19–206 of this article, the district council may sell the bonds, notes, or other evidence of indebtedness at public or private sale.
(c) (1) The governing body of the county shall guarantee the payment of principal of and interest on any bonds issued by the district council under this section.
(2) The guaranty shall be endorsed on each bond in the following language:
“The payment of interest when due and the principal at maturity is guaranteed by ….. County, Maryland.”
(3) Within 20 days after the bonds are ready for endorsement, the endorsement shall be:
(i) signed on each bond by the chair of the governing body or the county executive, as applicable;
(ii) attested to by the clerk of the governing body of the county; and
(iii) affixed with the county seal.
Frequently Asked Questions About Maryland § 21-209
What does Maryland Code § 21-209 cover?
Section 21-209 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 § 21-209?
A common citation format is "Maryland Code § 21-209" (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 § 21-209 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.