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Terms Used In Maryland Code, LOCAL GOVERNMENT 22-108

  • Contract: A legal written agreement that becomes binding when signed.
  • including: means includes or including by way of illustration and not by way of limitation. See
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
(a) The principal of and interest on bonds, the transfer of bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from State and local taxes.

(b) A contract for a resilience infrastructure project may provide that payment shall be made in bonds.

(c) A bond is not subject to the limitations of §§ 19-205 and 19-206 of this article.

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