GroundRules
← Search the law
Maryland · Through 2026-01-01

Md. Code, Local Government § 21–616

Read at publisher ↗
Where this section sits in the code
  1. Article - Local Government

(a) Bonds authorized by this part are, and shall state, an irrevocable pledge

of the full faith and credit and unlimited taxing power of the issuing authority to the

payment of the maturing principal of and interest on the bonds as and when the bonds

become payable.

(b) The bonds shall be payable first from the stormwater management fund

of the issuing authority.

(c) To the extent a stormwater management fund is insufficient to pay the

principal, interest, and redemption premium, if any, on the bonds, the issuing

authority shall impose ad valorem taxes, unlimited as to rate or amount, on all

assessable property in the stormwater management district in an amount sufficient

to provide for the payment of the principal, interest, and redemption premium, if any,

when due.

Collected 2026-09-14T19:59:58Z. Source file · JSON

Browse this collection