{"data":{"id":"us-md/md.-code-local-government-17-103","jurisdiction":"us-md","citation":"Md. Code, Local Government § 17–103","heading":"","body":"(a) This section applies to bond sale proceeds and other money that are:\n(1) subject to arbitrage, rebate, or similar limitations under federal\ntax law; and\n(2) in the custody or control of the controller, director of finance, or\nsimilar official of a charter county or Baltimore City.\n(b) Notwithstanding any other law, the controller, director of finance, or\nsimilar official of a charter county or Baltimore City may:\n(1) invest and reinvest bond proceeds and other money to which this\nsection applies:\n(i) in bonds, notes, or other obligations that are:\n1. of investment grade quality as established by a\nnationally recognized rating agency; and\n2. issued by or on behalf of a state or a unit, political\nsubdivision, public corporation, special district, or authority of a state; and\n(ii) directly or through a trust or fund that restricts\ninvestments to obligations of investment grade quality; and\n(2) sell, redeem, or exchange an investment or reinvestment made\nunder item (1) of this subsection.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=17-103","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"a1af969f4b6832043f1578e36de21402745b004a30f2b99b15ab9f3ad9db98d5","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-17-102","next":"us-md/md.-code-local-government-17-104"},"notice":"GroundRules: Original legal text. Not legal advice."}