§ 19-503. Authority to borrow money and issue bonds

Latest version.

   (a) General obligation bonds. -- A county may:

   (1) borrow money for any public purpose; and

   (2) issue and sell general obligation bonds to evidence the borrowing.

(b) Revenue bonds. -- By local law, a county may provide for the issuance of revenue bonds payable as to principal and interest solely from the revenues of one or more revenue-producing projects of the county.

(c) Bonds for sanitary facilities and bonds authorized by local law. -- Notwithstanding any other provision of this subtitle, a county may issue bonds:

   (1) for sanitary facilities as provided in the Environment Article; and

   (2) as authorized by local law in effect on the date the county adopts code home rule.

HISTORY: An. Code 1957, art. 25B, § 14, 20; 2013, ch. 119, § 2.

                    
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