§ 19-201. Definitions

   (a) In general. -- In this subtitle the following words have the meanings indicated.

** REVISOR'S NOTE
 
   This subsection is new language derived without substantive change from former Art. 31, § 29(a)(1), 30(a)(1), 31(a)(1), and 34(a)(1) and the introductory language of § 9.

** REVISOR'S NOTE
 
   The former reference to terms "wherever used or referred to in this subtitle" is deleted as surplusage.

** REVISOR'S NOTE
 
   The former reference to a term having a specific meaning "unless a different meaning clearly appears from the context" is deleted as implicit.

(b) Bond. --

   (1) "Bond" means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a governmental entity under general or special statutory authority.

   (2) "Bond" includes:

      (i) a bond;

      (ii) a certificate of indebtedness;

      (iii) an interim certificate; and

      (iv) a note.

** REVISOR'S NOTE
 
   This subsection is new language derived without substantive change from former Art. 31, § 29(a)(2), 30(a)(2), 31(a)(2), and 34(a)(2), the first clause of § 9(b), and, as it related to what constitutes a bond, the first sentence of § 24(a).

** REVISOR'S NOTE
 
   The former separate definitions of "bonds" in Art. 31, § 9(b) (applicable only to former Art. 31, § 10 through 12), § 29(a)(2) (applicable only to § 29), and § 30(a)(2) (applicable only to § 30) and the parenthetical clause in the first sentence of former § 24(a) (applicable only to § 24) are combined into one definition made applicable to this entire subtitle for consistency. The exclusions from the definition of "bonds" under former § 9(b) are revised in this subtitle where appropriate as scope provisions.

** REVISOR'S NOTE
 
   The reference to an obligation "for the payment of money", formerly occurring only in the definition of "bonds" under Art. 31, § 29(a)(2), is made applicable to other provisions of this subtitle for consistency and in light of references in former law such as the reference to the power "to borrow money and to evidence the borrowing" by bonds in former § 24(a).

** REVISOR'S NOTE
 
   The phrase "by whatever name known or source of funds secured", formerly occurring only in Art. 31, § 30(a)(2), 31(a)(2), and 34(a)(2) and in the parenthetical clause in the first sentence of former § 24(a)(1), is made applicable to other provisions of this subtitle for consistency and to avoid the need to repeat throughout this subtitle former references such as "bonds, interim certificates, revenue bonds or other obligations limited as to source of payment, notes, certificates of indebtedness or other obligations" and "bond, note, certificate of indebtedness, or other obligation".

** REVISOR'S NOTE
 
   The reference to "general or special statutory authority", formerly occurring only in Art. 31, § 9(b), is made applicable to other provisions of this subtitle for consistency and to avoid the need to repeat throughout this subtitle references such as "under any public general or public local law" and "authorized by law" occurring in former § 24, 29, and 30.

** REVISOR'S NOTE
 
   In paragraph (1) of this subsection, the former reference to obligations "sold or offered for sale" is deleted as included in the reference to an obligation "issued".

** REVISOR'S NOTE
 
   Also in paragraph (1) of this subsection, the former reference to statutory authority "heretofore or hereafter granted" is deleted as surplusage.

(c) Enabling act. -- "Enabling act" means a law that authorizes a governmental entity to create a debt and sell bonds to evidence that debt.

** REVISOR'S NOTE
 
   This subsection is new language added to provide a concise reference to a law that authorizes the issuance of bonds.

** DEFINED TERM:
 

   "Bond"                                                              § 19-201

HISTORY: An. Code 1957, art. 31, § 9 (intro. lang.), 9(b), 24(a), 29(a)(1), (2), 30(a)(1), (2), 31(a)(1), (2), 34(a)(1), (2); 2013, ch. 119, § 2.