{"data":{"id":"us-md/md.-code-economic-development-10-120","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 10–120","heading":"","body":"(a) (1) This section does not prevent the Corporation from pledging its full faith and credit to the payment of a bond.\n(2) This section does not limit the ability of the State or a governmental unit to impose and collect an assessment, rate, fee, or charge to pay to the Corporation any cost, including the principal of and interest on a bond, under an agreement between the Corporation and the State or governmental unit.\n(b) (1) A bond:\n(i) is not a debt, liability, or a pledge of the full faith and credit of the State or a governmental unit; and\n(ii) is payable solely from revenues provided under this subtitle.\n(2) The issuance of a bond is not directly, indirectly, or contingently a moral or other obligation of the State or a governmental unit to levy or pledge any tax or to make an appropriation to pay the bond.\n(3) Each bond shall state on its face that:\n(i) neither the State nor any governmental unit is obliged to pay the principal of or interest on the bond, except from revenues pledged to payment of the bond; and\n(ii) neither the full faith and credit nor the taxing power of the State or a governmental unit is pledged to the payment of the principal of or interest on the bond.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=10-120","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"cb55c12efb4d09c50718faeb863de963e35ac10157569050b714d90a5872a2ae","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-10-119","next":"us-md/md.-code-economic-development-10-121"},"notice":"GroundRules: Original legal text. Not legal advice."}