Md. Code, Local Government § 19–809
Where this section sits in the code
- Article - Local Government
(a) A bond issued under this subtitle and the interest on the bond are
limited obligations of Cecil County.
(b) Cecil County may pay the principal of and interest on a bond issued
under this subtitle only from:
(1) revenues derived from interest, mortgage insurance proceeds,
casualty or special hazard insurance proceeds, other insurance proceeds, or
condemnation proceeds; or
(2) other revenues derived from or related to loans made under a
program.
(c) Bonds and interest coupons issued under this subtitle:
(1) are not debts or charges against the general credit or taxing
powers of Cecil County within the meaning of any constitutional or county code
provision or statutory limitation; and
(2) do not give rise to any pecuniary liability of the county.
(d) On the advice of counsel, Cecil County may state on the face of a bond
that the bond:
(1) is issued under this subtitle; and
(2) is not an indebtedness to which the faith and credit of the county
is pledged.
Collected 2026-09-14T19:59:58Z. Source file · JSON