Md. Code, State Finance and Procurement § 8–136

If the Board has authorized the transaction and approved the form of the agreement, to improve the management of State general obligation debt or to reduce the cost of servicing such debt, and after giving due consideration to the creditworthiness of the counterparties, the Treasurer may:

(1) enter into interest rate exchange agreements or contracts providing for payments based on levels of or changes in interest rates; and

(2) appoint any agents necessary to implement and administer such agreements or contracts.