Maryland Code § TR-4-319

Section TR-4-319
Open in Lexace · Ask the AI about this section
(a) The revenue bonds, notes, and other evidences of obligation issued
under this subtitle are not and may not be considered to constitute a debt or a pledge
of the faith and credit of the State of Maryland, but shall be payable only from the
funds from or revenues provided by this subtitle for that purpose.
(b) All revenue bonds, notes, and other evidences of obligation issued under
this subtitle shall contain a statement on their face to the effect that:
(1) This State is not obligated to pay the principal of or the interest
on them except from revenues; and
(2) Neither the faith and credit nor the taxing power of this State is
pledged to the payment of the principal of or the interest on them.

‹ Prev All Maryland sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.