Md. Code, Local Government § 21–613

Bonds issued under this part:

(1) are general obligation bonds of the issuing authority that are fully

registered as to both principal and interest when approved by ordinance or other

legislative act of the county or city;

(2) shall bear interest payable at any time and at any annual rate as

provided or authorized by legislative act;

(3) may not mature later than 40 years from the date of their issue;

(4) may be made redeemable before maturity at the option of the

issuing authority, at any price and under any terms and conditions that are set before

their issuance;

(5) shall have any other terms and provisions and be otherwise

issued as provided or authorized by legislative act; and

(6) shall be sold in any manner, either at a public or private

negotiated sale, and on any terms, at, above, or below par, as provided or authorized

by legislative act.