Maryland Statutes
§ 8-127
Maryland § 8-127
This text of Maryland § 8-127 is published on Counsel Stack Legal Research, covering Maryland primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Md. Code Ann., State Finance and Procurement § 8-127 (2026).
Text
(a)Except as provided in § 8-129 of this subtitle, the proceeds of a sale of State bonds may be used only in the manner and for a project or program that is specified in an enabling act authorizing the issuance of State bonds.
(b)(1) Except as provided in § 8-129 of this subtitle, the proceeds of a sale of State bonds may be used only for a capital improvement unless:
(i)the enabling act specifically provides otherwise; or
(ii)in an emergency, the Board unanimously grants a temporary exception.
(2)The Board shall determine whether the object of an expenditure is a capital improvement. The standard for this determination is whether the useful life of the object equals or exceeds the life of the State bonds.
(c)The Board
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Bluebook (online)
Maryland § 8-127, Counsel Stack Legal Research, https://law.counselstack.com/statute/md/gsf/8-127.