1. (a) In this section, “small denomination bonds” means bonds in denominations of $5,000 or less.
2. (b) In accordance with § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of any State bond issue, may designate that all or a portion of the State bonds be issued as small denomination bonds.
3. (c) Small denomination bonds may be issued in any form permitted under § 8-121 of this subtitle.

4. (d) The Board may sell small denomination bonds at a negotiated sale if the Board determines that a negotiated sale will:

   1. (1) result in either a more efficient or economical sale of the bonds; or
   2. (2) provide greater access to investors who are residents of the State of Maryland.

Added by Acts 1989, c. 732, § 1, eff. June 1, 1989. Amended by Acts 2006, c. 567, § 1, eff. Oct. 1, 2006.