Md. Code, Local Government § 19–508

(a) A county fiscal officer who has custody of a sinking fund established by

the county to pay the principal of or the interest on bonds issued in accordance with

this subtitle may invest the sinking fund only as provided in § 19–102 of this title.

(b) A county fiscal officer who has custody of bond proceeds may invest the

proceeds as provided in §§ 17–101 and 17–102 of this article.