Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-518: (a) Counties may borrow the proceeds of bonds issued under this subtitle and enter into agreements with the Department evidencing the counties’ obligation to repay such loans, pursuant to such terms and conditions as the Department and the counties deem appropriate
What this law says, in plain English
Counties may borrow bond proceeds and enter agreements with the Department to repay loans under flexible terms. Payment obligations can be general obligations backed by full faith and credit, or other authorized obligations, subject to state constitutional limits.
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