Md. Code, Local Government § 21–616
Where this section sits in the code
- 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