2013 Maryland Code
TRANSPORTATION
§ 4-319 - Full faith and credit not pledged


MD Transp Code § 4-319 (2013) What's This?

§4-319.

(a) The revenue bonds, notes, and other evidences of obligation issued under this subtitle are not and may not be considered to constitute a debt or a pledge of the faith and credit of the State of Maryland, but shall be payable only from the funds from or revenues provided by this subtitle for that purpose.

(b) All revenue bonds, notes, and other evidences of obligation issued under this subtitle shall contain a statement on their face to the effect that:

(1) This State is not obligated to pay the principal of or the interest on them except from revenues; and

(2) Neither the faith and credit nor the taxing power of this State is pledged to the payment of the principal of or the interest on them.

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