Md. Code, Local Government § 19-606
Md. Code, Local Government § 19-606
in effect(a) If the authorizing resolution provides, notes may be secured by:
(1) a trust indenture with a corporate trustee, which may be any trust company or bank having the powers of a trust company in or outside the State; and
(2) a letter of credit, line of credit, or other credit or liquidity instrument from or with a bank or other lending institution.
(b) A security provided by an authorizing resolution under this section may be secured by the same security given to holders of the notes for the performance by a county of the county’s monetary obligations under the notes.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg§ion=19-606&enactments=falseFetched: 10/17/2026