Maryland Code, ENVIRONMENT 5-407
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Terms Used In Maryland Code, ENVIRONMENT 5-407
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
Except as provided in § 5-408(c) of this subtitle, the Authority may not pledge the faith and credit of the State, nor create any debt or obligation of the State. If any pledge, debt, or obligation is created, it is invalid. The members of the Authority are not liable as individuals for any contract made on behalf of the Authority.