Md. Code, State Finance and Procurement § 8–118

(a) The Board shall exercise the powers and perform the duties that the General Assembly delegates to the Board in connection with:

(1) the creation of State debt;

(2) the determination of interest on and other terms and conditions of the State debt;

(3) the preparation of State bonds that evidence the State debt;

(4) notice of a sale of State bonds; and

(5) the sale.

(b) The Board shall exercise these powers and perform these duties in accordance with:

(1) Article III, § 34 of the Maryland Constitution;

(2) §§ 8-117 through 8-124 of this subtitle; and

(3) the specific enabling act.