reglab/housing_qa huggingface dataset:
MD. State Finance and Procurement Code Ann. §  8-126 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-126 - Reduction of Authorization

    (a)    Whenever an appropriation from the General Fund is made in the State budget and is spent to finance any part of a project or program for which an enabling act authorizes State debt, the total State debt authorized by the enabling act is reduced by the lesser of:        (1)    the amount of the appropriation; or        (2)    the amount of the State debt for which State bonds have not been issued.    (b)    Whenever any other funds are made available to finance any part of a project or program for which an enabling act authorizes State debt, the Governor, with the approval of the Board, may reduce the total State debt authorized by the enabling act by an amount not exceeding the amount of funds made available.    (c)    The Comptroller shall submit for publication in 2 separate issues of the Maryland Register a notice that:        (1)    describes the project or program for which the debt authorization is to be reduced;        (2)    states the amount of the reduction;        (3)    states the source of the funds on which the reduction is based; and        (4)    states the chapter number and year of enactment of the enabling act and each amendment to the enabling act.    (d)    A reduction under this section may become effective only after the second publication of notice in the Maryland Register.
MD. State Finance and Procurement Code Ann. §  8-127 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-127 - Restrictions on Use

    (a)    Except as provided in § 8-129 of this subtitle, the proceeds of a sale of State bonds may be used only in the manner and for a project or program that is specified in an enabling act authorizing the issuance of State bonds.    (b)    (1)    Except as provided in § 8-129 of this subtitle, the proceeds of a sale of State bonds may be used only for a capital improvement unless:            (i)    the enabling act specifically provides otherwise; or            (ii)    in an emergency, the Board unanimously grants a temporary exception.        (2)    The Board shall determine whether the object of an expenditure is a capital improvement. The standard for this determination is whether the useful life of the object equals or exceeds the life of the State bonds.    (c)    The Board shall enforce the provisions of this section.
MD. State Finance and Procurement Code Ann. §  8-128 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-128 - Termination of Authorization

    (a)    If, within 2 years after the date of an authorization of State debt, evidence that a required matching fund will be provided has not been presented to the Board or no part of the project or program for which the enabling act authorized the State debt is under contract and the Board has not encumbered money for any part of the project or program, the authorization terminates unless:        (1)    the enabling act provides otherwise; or        (2)    in an emergency, the Board unanimously grants a temporary exception for a period of 1 year.    (b)    Unless otherwise provided in an enabling act, an authorization of State debt for a project or program shall terminate no later than 1 year after the abandonment, completion, or acceptance of the project or program, as determined by the Board.    (c)    Except to the extent that money authorized by an enabling act for a State project or program has been encumbered by the Board, an authorization of State debt shall automatically terminate 7 years after the date of the authorization, unless:        (1)    the enabling act provides otherwise; or        (2)    in an emergency, the Board unanimously grants a temporary exception for 1 year.    (d)    If bonds have not been issued, the amount of any unissued bonds from a terminated authorization shall be canceled and be of no further effect.    (e)    If bonds have been issued, the amount of any unspent bond proceeds from a terminated authorization shall be disposed of as provided in § 8-129 of this subtitle.    (f)    (1)    The Board shall enforce the provisions of this section.        (2)    A failure to comply with or give effect to the provisions of this section may not affect the validity or enforceability of State debt.    (g)    The Board shall submit for publication in the Maryland Register a notice of any authorization of State debt that has been terminated or extended under this section; the notice shall include the chapter number and year of enactment of the enabling act and each amendment to the enabling act.    (h)    A termination or extension under this section may become effective only after the publication of notice in the Maryland Register.    (i)    (1)    The Treasurer, in consultation with the Comptroller, shall submit a report on January 1 each year to the Governor and, in accordance with § 2-1257 of the State Government Article, the General Assembly.        (2)    The report shall list all projects or programs for which authorization would be terminated in the upcoming year under the provisions in this section or § 7-305 of this article.
MD. State Finance and Procurement Code Ann. §  8-129 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-129 - Unspent Proceeds

    (a)    With the approval of the Board, the Governor shall dispose of unspent proceeds of an enabling act within 1 year after the termination of the State debt authorization under § 8-128 of this subtitle.    (b)    The Governor shall:        (1)    use the proceeds to reduce State debt authorizations, as provided in § 8-126(b) through (d) of this subtitle;        (2)    allocate the proceeds to the Construction Contingency Fund, as provided in § 3-609 of this article; or        (3)    order the proceeds to be credited to the Annuity Bond Fund, to pay the outstanding bonded indebtedness of the State.    (c)    The Board shall enforce the provisions of this section.
MD. State Finance and Procurement Code Ann. §  8-130 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-130 - Adoption of Regulations

    The Department of Budget and Management, with the approval of the Board, shall adopt regulations in accordance with Title 10, Subtitle 1 of the State Government Article to implement the provisions of §§ 8-128 and 8-129 of this subtitle.
MD. State Finance and Procurement Code Ann. §  8-131.2 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part III - Authorization and Implementation|Section 8-131.2 - Exemption From Taxation

    The State bonds, the transfer of State bonds, the interest payable on State bonds, and any income derived from State bonds, including profit realized in the sale or exchange of State bonds, are exempt from State and local taxes.
MD. State Finance and Procurement Code Ann. §  8-132 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part IV - Debt Service|Section 8-132 - Annuity Bond Fund

    (a)    There is an Annuity Bond Fund.    (b)    The Comptroller shall:        (1)    credit to the Annuity Bond Fund any money appropriated in the State budget to:            (i)    meet the debt service requirements on State bonds; and            (ii)    pay the costs of fiscal agents and other contracting parties appointed by the State Treasurer under §§ 8–121 and 8–136 of this subtitle; and        (2)    as specified in the appropriation, use the money to meet the debt service on the State bonds and pay fiscal agents and other contracting parties’ costs.    (c)    Any premium from the sale of State bonds transferred to the Annuity Bond Fund under § 8–125 of this subtitle may be used to pay debt service on State bonds.
MD. State Finance and Procurement Code Ann. §  8-133 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part IV - Debt Service|Section 8-133 - State and Local Facilities Loan

    (a)    The source of payment for the principal of and interest on each State bond that is sold as part of a State and local facilities loan shall be as provided in the enabling act under which the State bond is issued.    (b)    This section does not affect any exemption from taxation provided by law.
MD. State Finance and Procurement Code Ann. §  8-134 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part IV - Debt Service|Section 8-134 - State Tax on Property

    (a)    (1)    Subject to the provisions of subsection (b) of this section, on or before May 1 of each year, the Board shall certify to the governing body of each county the rates of State tax on assessable property needed to meet the debt service requirements during the next taxable year on all the State bonds that the Board anticipates will be outstanding during that year.        (2)    Each governing body immediately shall collect the tax at the rates the Board certifies under this section.    (b)    If, on or before May 1 of any year, the Comptroller certifies to the Board that the General Assembly has appropriated enough money to meet the debt service requirements during the next taxable year on an issue of State bonds:        (1)    the Board, by resolution, may determine that the tax otherwise required by the enabling act under which those State bonds are issued need not be imposed for that year; and        (2)    the Governor, by proclamation issued under the resolution, shall declare that the taxes otherwise required by the enabling act may not be collected during that year.
MD. State Finance and Procurement Code Ann. §  8-136 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part IV - Debt Service|Section 8-136 - Interest Rate Exchange Agreements or Contracts

    If the Board has authorized the transaction and approved the form of the agreement, to improve the management of State general obligation debt or to reduce the cost of servicing such debt, and after giving due consideration to the creditworthiness of the counterparties, the Treasurer may:         (1)    enter into interest rate exchange agreements or contracts providing for payments based on levels of or changes in interest rates; and        (2)    appoint any agents necessary to implement and administer such agreements or contracts.
MD. State Finance and Procurement Code Ann. §  8-138 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part V - State Revenue Anticipation Notes|Section 8-138 - Authorized

    Subject to the limitations in this Part V of this subtitle, and at the direction of the Board, the Treasurer may borrow money, on the credit of the State, in anticipation of:         (1)    tax receipts, as set forth in the revenue estimates that support an enacted State budget; or        (2)    proceeds of a sale of State bonds.
MD. State Finance and Procurement Code Ann. §  8-139 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part V - State Revenue Anticipation Notes|Section 8-139 - Notice Required

    The Board shall give the President of the Senate and the Speaker of the House of Delegates at least 10 days’ prior notice of a loan under this Part V of this subtitle.
MD. State Finance and Procurement Code Ann. §  8-140 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part V - State Revenue Anticipation Notes|Section 8-140 - Total Loans

    The loans outstanding under this Part V of this subtitle may not exceed a total principal amount of $100,000,000.
MD. State Finance and Procurement Code Ann. §  8-141 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part V - State Revenue Anticipation Notes|Section 8-141 - Interest Rates

    The Board shall determine the interest rates on loans under this Part V of this subtitle.
MD. State Finance and Procurement Code Ann. §  8-142 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part V - State Revenue Anticipation Notes|Section 8-142 - Time for Repayment

    (a)    A loan under this Part V of this subtitle in anticipation of proceeds of a sale of State bonds shall be repaid within 180 days after the date of the loan.    (b)    A loan under this Part V of this subtitle in anticipation of tax receipts shall be repaid within 180 days after the date of the loan but no later than 45 days after the close of the fiscal year.    (c)    The Board may not extend a time limit set in this section.
MD. State Finance and Procurement Code Ann. §  8-145 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 1 - General Obligation Debt|Part VI - Lost State Bonds and Coupons|Section 8-145 - Replacement

    (a)    Whenever the owner of a State bond or coupon from a State bond satisfies the Treasurer, by legal and competent evidence, that the State bond or coupon has been lost and gives the Treasurer satisfactory security to indemnify the State against any other claim on the State bond or coupon, the Treasurer may issue a duplicate State bond or duplicate coupon.    (b)    Each duplicate State bond or duplicate coupon shall:        (1)    show on its face that it is a duplicate of a lost State bond or coupon; and        (2)    correspond in amount with the lost State bond or coupon.
MD. State Finance and Procurement Code Ann. §  8-201 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part I - Definitions; Scope of Subtitle|Section 8-201 - Definitions

    (a)    In this subtitle the following words have the meanings indicated, unless the context clearly requires otherwise.    (b)    (1)    “Bond” means an obligation for the payment of money, by whatever name known or source of funds secured, issued by a State unit under general or special statutory authority.        (2)    “Bond” includes:            (i)    a bond;            (ii)    a certificate of indebtedness;            (iii)    an interim certificate; and            (iv)    a note.    (c)    “Enabling act” means a law that authorizes a State unit to create a debt and to sell bonds to evidence that debt.    (d)    “Resolution” means a resolution or other evidence of official action customarily used by a State unit.    (e)    (1)    “State unit” means a unit or instrumentality of the State.        (2)    “State unit” does not include the State.
MD. State Finance and Procurement Code Ann. §  8-202 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part I - Definitions; Scope of Subtitle|Section 8-202 - Scope of Subtitle

    This subtitle does not apply to an entity that is governed by Title 19, Subtitles 1, 2, and 9 and Subtitle 6, Part I of the Local Government Article.
MD. State Finance and Procurement Code Ann. §  8-205 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part II - General Provisions|Section 8-205 - Form of Bonds

    (a)    A State unit authorized to issue bonds may issue bonds:        (1)    in coupon form; or        (2)    notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.    (b)    Whenever a State unit provides for the sale of bonds in registered form, the State unit may:        (1)    establish procedures for the registration and transfer of the bonds;        (2)    appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;        (3)    in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:            (i)    custodian banks and their nominees; or            (ii)    financial intermediaries and their nominees; and        (4)    exercise any other power that relates to issuance of bonds in registered form.
MD. State Finance and Procurement Code Ann. §  8-207 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part II - General Provisions|Section 8-207 - Simultaneous Issues

    (a)    This section does not apply to bonds issued under an enabling act that specifically states that this section does not apply.    (b)    Whenever a State unit simultaneously issues bonds authorized under 2 or more enabling acts, the State unit may allow submission of a bid that:        (1)    is for bonds authorized under 1 enabling act; and        (2)    is conditioned on the acceptance of 1 or more companion bids for bonds authorized under 1 or more of the other enabling acts.    (c)    Whenever, as a whole, a set of bids under subsection (b) of this section yields to the State unit more than individual bids, the State unit shall accept the set even if 1 or more of the bids in the set yields less than the individual bids.
MD. State Finance and Procurement Code Ann. §  8-208 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part II - General Provisions|Section 8-208 - Maturity

    (a)    (1)    This section does not apply to a bond that:            (i)    matures within 1 year after the date of issue and is issued:                1.    in anticipation of tax receipts;                2.    to meet current expenses; or                3.    to meet an emergency;            (ii)    is sold to the United States or a unit or instrumentality of the United States;            (iii)    is issued under a plan of composition approved in a proceeding under Chapter IX of the United States Bankruptcy Act; or            (iv)    is issued under any other plan to refund or refinance in exchange, bond for bond, an outstanding maturing debt, other than:                1.    a current or floating debt; or                2.    a bond under item (i) of this paragraph.        (2)    This section does not apply to bond or grant anticipation notes issued under Part III of this subtitle.        (3)    This section does not apply to bonds issued under an enabling act that specifically states that this section does not apply or that provides a different method for establishing the maturity of the bonds.    (b)    (1)    A State unit shall issue bonds on a serial maturity plan.        (2)    The State unit may:            (i)    vary the amounts of the series; and            (ii)    provide for the maturity of a series in consecutive annual installments or at longer intervals.    (c)    (1)    The maturity date of the final series shall be based on the purpose for which the bonds are issued:            (i)    within the time limit that applies under the schedule in paragraph (2) of this subsection; or            (ii)    if more than 1 time limit applies, within the shortest applicable time limit.        (2)    The schedule of maturity dates is as follows:
MD. State Finance and Procurement Code Ann. §  8-210 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part II - General Provisions|Section 8-210 - Small Denominations

    (a)    A State unit authorized to issue bonds:        (1)    subject to the limitations in this section and notwithstanding any other law, if the State unit determines that it is in the public interest, may issue and sell the bonds in denominations of less than $1,000, in any form; and        (2)    subject to any other provision of law, may set the prices for and the interest rates to be paid on the bonds.    (b)    (1)    A State unit may not have bonds outstanding under this section in excess of a total principal amount of $1,000,000.        (2)    The total debts of a State unit, including bonds under this section, may not exceed a limit set by law.    (c)    A State unit may sell bonds issued under this section in any manner that the State unit considers appropriate, notwithstanding §§ 8-206 and 8-208 of this subtitle or any other law that requires the solicitation of competitive bids or the public sale of bonds to the highest bidder or bidders or that regulates the manner in which the sale shall be advertised or the bonds sold.    (d)    (1)    A State unit that issues bonds under this section shall approve a disclosure document that includes:            (i)    a description of the security for the bonds;            (ii)    a statement of the purposes for which the proceeds of the bonds will be used;            (iii)    a description of the financial condition of the State unit;            (iv)    a statement of the prices for and the interest rates to be paid on the bonds; and            (v)    a statement of the times and places of payment of the principal of and interest on the bonds.        (2)    The State unit shall make the disclosure document available to buyers of the bonds.
MD. State Finance and Procurement Code Ann. §  8-213 (2021)
2021 Maryland Statutes|State Finance and Procurement|Division I - State Finance|Title 8 - Debt|Subtitle 2 - Debts of State Units|Part III - Bond and Grant Anticipation Notes|Section 8-213 - Authority to Issue

    (a)    A State unit authorized to issue bonds may issue and sell bond anticipation notes if, in the resolution that authorizes the notes, the State unit covenants to:        (1)    pay from the proceeds of the bonds in anticipation of the sale of which the notes are issued:            (i)    the principal of the notes; and            (ii)    to the extent that the interest on the notes is not paid from the proceeds of sale of the notes, the interest on the notes; and        (2)    issue the bonds as soon as there is no longer a reason for deferring their issuance.    (b)    A State unit may issue and sell grant anticipation notes in anticipation of the receipt of a grant from the United States, the State, or any of their units if, in the resolution that authorizes the notes, the State unit covenants to pay from the proceeds of the grant in anticipation of the receipt of which the notes are issued:        (1)    the principal of the notes; and        (2)    the interest on the notes.