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§ 19-605. Authorizing resolution

MD Local Gov Code § 19-605 (2019) (N/A)
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(a)    The notes shall be authorized by a resolution.

(b)    The authorizing resolution shall:

(1)    cite the authority to issue the notes and the amount authorized; and

(2)    specify:

(i)    the maturity;

(ii)    the interest rate or manner of determining the rate, which may include a variable rate;

(iii)    1.    the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or

2.    the manner of determining the price at which the notes will be sold;

(iv)    the manner of the sale of the notes, which may be by private negotiation by the county with a prospective purchaser, if determined by the county to be in the county’s best interest;

(v)    the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and

(vi)    other terms on the notes.

(c)    The authorizing resolution may provide for:

(1)    the issuance of the notes in series, as money is required; and

(2)    the renewal of the notes at maturity, with or without resale.

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