Md. Code, Economic Development § 12–112

(a) (1) Bonds shall be sold in the manner, at competitive or negotiated sale, and on the terms at, above, or below par, that the public body considers best.

(2) A contract to acquire or improve a facility may provide that payment shall be made in bonds.

(b) A bond is not subject to the limitations of §§ 19–205 and 19–206 of the Local Government Article.