{"data":{"id":"us-md/md.-code-local-government-19-236","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–236","heading":"","body":"(a) Notwithstanding any other law and in addition to any other authority,\nto improve the management of debt service or interest rate risks on its bonds or to\nreduce the cost of servicing its bonds, the governing body of a county may enact, by\nlocal law or resolution, authority for the county to:\n(1) enter into interest rate exchange agreements providing for\npayments based on levels of or changes in interest rates; and\n(2) appoint any agents necessary to implement and administer the\nagreements.\n(b) (1) A county that proposes to enter into one or more interest rate\nexchange agreements shall enact a local law or resolution that authorizes the\ntransaction on the terms and conditions established by the county in the local law or\nresolution.\n(2) (i) In the local law or resolution that authorizes the\ntransaction or in a separate resolution, the county may provide for the final form and\nthe final terms and provisions of the agreement, after giving due consideration to the\ncreditworthiness of the counterparty.\n(ii) The county may delegate to an officer, an official, a board,\nor an agency of the county specified in the local law or resolution the power to provide\nfor the final form and the final terms and provisions of the agreement, after giving\ndue consideration to the creditworthiness of the counterparty.\n(c) An interest rate exchange agreement may be entered into in connection\nwith, or incidental to, any bonds of the county.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-236","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"7b981467fb753f182ea636a80a0426dae19f77d5dcc67892390f026493d44995","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-233","next":"us-md/md.-code-local-government-19-301"},"notice":"GroundRules: Original legal text. Not legal advice."}