- (a) Bonds are payable from the special fund required under § 21-412 of this subtitle.
(b) The governing body of a municipality that issues bonds under this part may:
- (1) establish a sinking fund;
- (2) establish a debt service reserve fund;
- (3) pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
- (4) provide for municipal bond insurance or any other financial guaranty of the bonds.
Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013.