(a) Bonds are payable from the special fund required under § 21–506 of this subtitle. (b) Bonds issued under this subtitle are a special obligation of the county and are not a general obligation debt of the county or a pledge of the county’s full faith and credit or taxing power. (c) The governing body of a county that issues bonds under this subtitle 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.
Maryland Legal Code