Md. Code, Local Government § 21-420
Md. Code, Local Government § 21-420
in effect(a) Bonds are payable from the special fund required under § 21–412 of this subtitle.
(b) The governing body of a municipality that issues bonds under this part may:
(1) establish a sinking fund;
(2) establish a debt service reserve fund;
(3) pledge other assets and revenues toward the payment of the principal of and interest on the bonds; or
(4) provide for municipal bond insurance or any other financial guaranty of the bonds.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg§ion=21-420&enactments=falseFetched: 10/17/2026