Pursuant to the Maryland Annotated Code, Education Article Section 16-302, the college is authorized to incur debt only for the purposes provided by this section.
This debt policy is intended to meet the needs of the college, promote continued sound financial management, and be consistent with all applicable state and local laws and applicable college policies:
The Board of Trustees hereby authorizes the President, or his/her designee, to develop and establish appropriate procedures to implement and enforce this policy.
Policy Title: Debt Policy
Policy Category: Administration, Business and Fiscal Affairs
Policy Owner: Vice President for Learning Resources Management
Policy Administrator: Associate Vice President for Learning Resources Management
Contact Information: Andrew Little; email@example.com; 410-777-2227
Approval Date: December 8, 2009
Effective Date: December 8, 2009
Applies to: All employees
Related Policies: N/A
Related Procedures: N/A
Relevant Laws: N/A