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§ 19-204. Form of bonds

MD Local Gov Code § 19-204 (2019) (N/A)
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(a)    This section applies only to the following governmental entities:

(1)    a county;

(2)    a municipality;

(3)    a public corporation of the State;

(4)    a sanitary commission or district; and

(5)    a unit, public corporation, or other instrumentality of a county or a municipality.

(b)    Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections.

(c)    Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity may:

(1)    establish procedures for the registration and transfer of the bonds;

(2)    appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;

(3)    in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:

(i)    custodian banks and their nominees; or

(ii)    financial intermediaries and their nominees; and

(4)    exercise any other power that relates to issuance of bonds in registered form.

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§ 19-205. Public and private sale