{"data":{"id":"us-md/md.-code-local-government-19-605","jurisdiction":"us-md","citation":"Md. Code, Local Government § 19–605","heading":"","body":"(a) The notes shall be authorized by a resolution.\n(b) The authorizing resolution shall:\n(1) cite the authority to issue the notes and the amount authorized;\nand\n(2) specify:\n(i) the maturity;\n(ii) the interest rate or manner of determining the rate, which\nmay include a variable rate;\n(iii) 1. the price at which the notes will be sold, which may\nbe at, above, or below the face value of the notes; or\n2. the manner of determining the price at which the\nnotes will be sold;\n(iv) the manner of the sale of the notes, which may be by\nprivate negotiation by the county with a prospective purchaser, if determined by the\ncounty to be in the county’s best interest;\n(v) the terms or conditions, if any, under which notes may or\nshall be redeemed prior to their stated maturity; and\n(vi) other terms on the notes.\n(c) The authorizing resolution may provide for:\n(1) the issuance of the notes in series, as money is required; and\n(2) the renewal of the notes at maturity, with or without resale.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=19-605","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"2b28f66da4752243cd6688e3fa5f26f122281abd87a68033d45a8f74db47b798","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-19-604","next":"us-md/md.-code-local-government-19-606"},"notice":"GroundRules: Original legal text. Not legal advice."}