- (a) Bonds are payable from the special fund required under § 21-506 of this subtitle.
- (b) Bonds issued under this subtitle are a special obligation of the county and are not a general obligation debt of the county or a pledge of the county's full faith and credit or taxing power.
(c) The governing body of a county that issues bonds under this subtitle 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.