{"data":{"id":"us-md/md.-code-housing-and-community-development-4-1606","jurisdiction":"us-md","citation":"Md. Code, Housing and Community Development § 4–1606","heading":"","body":"(a) The legislative body of a covered county that undertakes a program shall adopt an ordinance or resolution that specifies:\n(1) the proposed program;\n(2) the amount of bonds to be issued;\n(3) the interest rate or rates that the bonds will bear or the method to determine the rate or rates; and\n(4) other provisions consistent with this subtitle that the legislative body considers appropriate to finance mortgage loans.\n(b) An ordinance or resolution that authorizes the issuance of bonds shall include findings about:\n(1) the appropriate ranges of income of families of low or moderate income;\n(2) the need for the financing that is allowed under this subtitle;\n(3) the types of housing available and needed in the covered county; and\n(4) other factors that the legislative body of the covered county finds appropriate to establish a program.\n(c) A finding by the legislative body of a covered county about the qualification of an individual or family as a family of low or moderate income, or about any other matter connected with a program is conclusive in a suit, action, or proceeding that involves the validity or enforceability of a bond issued under this subtitle or the security for the bond.","path":["Article - Housing and Community Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=ghs\u0026section=4-1606","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:07Z","sha256":"595de8602362deb38043c4a29fb3632146fa4098d1d98e454bc3f48792025903","source_id":"us-md","stale":false,"prev":"us-md/md.-code-housing-and-community-development-4-1605","next":"us-md/md.-code-housing-and-community-development-4-1607"},"notice":"GroundRules: Original legal text. Not legal advice."}