{"data":{"id":"us-md/md.-code-local-government-19-505","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–505","heading":"","body":"(a) A county may not issue bonds that mature later than 40 years after the\ndate of issue.\n(b) A county may issue bonds only for cash.\n(c) A county may not sell bonds at less than par value.\n(d) If a legally sufficient referendum petition on a public local law\nauthorizing the issuance of bonds is properly filed with the county board of elections,\nthe bonds may be issued only if the public local law is approved by a majority of the\nvoters voting on the question.\n(e) Any bonds sold by a county are subject to §§ 19–205 and 19–206 of this\ntitle, unless the public local law authorizing the bonds provides a specific exemption.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-505","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"fadc74217985659342d1b1e8d1436ff0fa239737a183c8371890ff398089dc32","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-504","next":"us-md/md.-code-local-government-19-506"},"notice":"GroundRules: Original legal text. Not legal advice."}