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§ 24-522. Issuance of bonds to refund outstanding bonds

West's Annotated Code of MarylandEducation

West's Annotated Code of Maryland
Education (Refs & Annos)
Division IV. Other Education Provisions [Titles 21-End] (Refs & Annos)
Title 24. Miscellaneous Education Agencies (Refs & Annos)
Subtitle 5. Historic ST. Mary's City Commission (Refs & Annos)
Part IV. Revenue Bonds
MD Code, Education, § 24-522
§ 24-522. Issuance of bonds to refund outstanding bonds
Currentness
In general
(a) The Commission may issue bonds to refund any of its bonds then outstanding, including the payment of any redemption premium and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase, or maturity of the bonds.
Purpose and amount of refunding bonds
(b) Refunding bonds may be issued:
(1)(i) For the public purposes of realizing savings in the effective costs of debt service, directly or through a debt restructuring; or
(ii) For alleviating impending or actual default; and
(2) In one or more series in an amount in excess of that of the bonds to be refunded.

Credits

Added by Acts 1997, c. 583, § 1, eff. July 1, 1997.
MD Code, Education, § 24-522, MD EDUC § 24-522
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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