Maryland § 24-517
Full text of Maryland Maryland Code § 24-517, with citation guidance and answers to common questions.
§ 24-517.
(a) The bonds of any issue shall be payable solely from the property or receipts of the Commission, including:
(1) Fees, charges, rents, or other revenues payable to the Commission;
(2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;
(3) Investment earnings from funds or accounts maintained pursuant to a bond resolution or trust agreement;
(4) Proceeds of refunding bonds; and
(5) Any other source authorized by law.
(b) (1) Bonds issued under the provisions of this title are not a debt of, and do not pledge the faith, credit, or taxing power of the State.
(2) The bonds shall contain on their face a statement that the bonds are not a debt of, and do not pledge the faith, credit, or taxing power of the State, the Commission, or any political subdivision, but are payable solely from the revenues and property provided for therein.
(3) Subject to the approval of the Board of Public Works, the Commission may receive and the State may lease to or lease back to the Commission any property within the enclave of Historic St. Mary’s City and held in the name of the State or any other agency of the State in order to facilitate the issuance of revenue bonds by the Commission under this subtitle.
Frequently Asked Questions About Maryland § 24-517
What does Maryland Code § 24-517 cover?
Section 24-517 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 § 24-517?
A common citation format is "Maryland Code § 24-517" (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 § 24-517 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.