(a) In this section, “small denomination bonds” means bonds in denominations of $5,000 or less.
(b) In accordance with § 8-121 of this subtitle, the Board, in a resolution setting forth the terms and conditions of any State bond issue, may designate that all or a portion of the State bonds be issued as small denomination bonds.
(c) Small denomination bonds may be issued in any form permitted under § 8-121 of this subtitle.
(d) The Board may sell small denomination bonds at a negotiated sale if the Board determines that a negotiated sale will:
(1) result in either a more efficient or economical sale of the bonds; or
(2) provide greater access to investors who are residents of the State of Maryland.
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