{"data":{"id":"us-md/md.-code-local-government-21-616","jurisdiction":"us-md","citation":"Md. Code, Local Government § 21–616","heading":"","body":"(a) Bonds authorized by this part are, and shall state, an irrevocable pledge\nof the full faith and credit and unlimited taxing power of the issuing authority to the\npayment of the maturing principal of and interest on the bonds as and when the bonds\nbecome payable.\n(b) The bonds shall be payable first from the stormwater management fund\nof the issuing authority.\n(c) To the extent a stormwater management fund is insufficient to pay the\nprincipal, interest, and redemption premium, if any, on the bonds, the issuing\nauthority shall impose ad valorem taxes, unlimited as to rate or amount, on all\nassessable property in the stormwater management district in an amount sufficient\nto provide for the payment of the principal, interest, and redemption premium, if any,\nwhen due.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=21-616","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"7ff81efaf2ea7de44ad5d01c2ead25a75da6590f04ea33554620bfeddde51222","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-21-615","next":"us-md/md.-code-local-government-21-617"},"notice":"GroundRules: Original legal text. Not legal advice."}