§ 22-106

Maryland § 22-106

• Jurisdiction: Maryland
• Article glg: Local Government
• Title: 22

Text

(a) Notwithstanding any other provision of law, a Resilience Authority may issue and sell bonds periodically:

(1) for resilience infrastructure projects;

(2) to refund outstanding bonds;

(3) to pay the costs of preparing, printing, selling, and issuing the bonds;

(4) to fund reserves; and

(5) to pay the interest on the bonds in the amount and for the period the Resilience Authority considers reasonable.

(b) Bonds issued by a Resilience Authority are limited obligations and are not a pledge of the faith and credit or taxing power of an incorporating local government.