Md. Code, Local Government § 19–208

(a) (1) Except as provided in paragraph (2) of this subsection, this

section applies only to the following governmental entities:

(i) a county;

(ii) a municipality;

(iii) a public corporation of the State; and

(iv) a political subdivision or an agency or instrumentality of a

political subdivision of the State.

(2) This section does not apply to Baltimore City.

(b) A governmental entity authorized to issue bonds:

(1) subject to the limitations in this section and notwithstanding any

other law, if the governmental entity determines that it is in the public interest, may

issue and sell bonds in denominations of $1,000 or less, in any form;

(2) may sell the bonds in integral multiples; and

(3) subject to any other provision of law, may set the prices for and

the interest rates to be paid on the bonds.

(c) (1) A governmental entity may not have bonds outstanding under

this section in excess of a total principal amount of the greater of:

(i) $1,000,000; or

(ii) 10% of the total outstanding bonded indebtedness of the

governmental entity at the time the bonds are issued.

(2) The total debts of a governmental entity, including bonds under

this section, may not exceed a limit set by law.

(d) A governmental entity may sell bonds issued under this section in any

manner that the governmental entity considers appropriate, notwithstanding §§ 19–

205 and 19–206 of this subtitle or any other law that requires the solicitation of

competitive bids or the public sale of bonds to the highest bidder or bidders or that

regulates the manner in which the sale shall be advertised or the bonds sold.

(e) (1) A governmental entity that issues bonds under this section shall

approve a disclosure document that includes:

(i) a description of the security for the bonds;

(ii) a statement of the purposes for which the proceeds of the

bonds will be used;

(iii) a description of the financial condition of the governmental

entity;

(iv) a statement of the prices for and the interest rates to be

paid on the bonds; and

(v) a statement of the times and places of payment of the

principal of and interest on the bonds.

(2) A governmental entity shall make the disclosure document

available to buyers of the bonds.