Section 9-806 - Bond provisions in resolution. - Maryland Statutes

§ 9-806. Bond provisions in resolution.
 

(a)  Recital.- The authorizing resolution may provide that the bonds shall contain a recital that they are issued under this subtitle. 

(b)  Payment.- The authorizing resolution shall state that the interest on bonds issued under this subtitle shall be payable twice a year. 

(c)  Provisions for form, content, and terms.- The authorizing resolution or any subsequent resolution may provide that the bonds issued under this subtitle: 

(1) Be in 1 or more series; 

(2) Bear a certain date or dates; 

(3) Be executed in a certain manner; 

(4) Contain certain terms, covenants, and conditions; 

(5) Be in coupon or registered form, or both; 

(6) May mature at a certain time or times, but not later than 40 years from their respective dates of issuance; 

(7) Be payable in a certain medium of payment; 

(8) Be payable at a certain place or places; 

(9) Carry certain registration privileges; and 

(10) Be subject to certain terms of redemption. 
 

[An. Code 1957, art. 43, §§ 431, 433; 1982, ch. 240, § 2.]