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§ 3-303. Authority of Department to issue bonds

West's Annotated Code of MarylandTransportation

West's Annotated Code of Maryland
Transportation
Title 3. Financing by Department (Refs & Annos)
Subtitle 3. County Transportation Bonds (Refs & Annos)
MD Code, Transportation, § 3-303
§ 3-303. Authority of Department to issue bonds
Currentness
In general
(a) Subject to the limitations of this subtitle, the Department from time to time may:
(1) Borrow money and evidence the borrowing by the issuance and sale of its bonds in substantially the form and manner and subject to the same general provisions and tax exemption applicable to consolidated transportation bonds under §§ 3-203 through 3-207, 3-212, and 3-213 of this title;
(2) Disburse the proceeds of the borrowing pursuant to agreements with participating counties; and
(3) Pay the principal of and interest on the bonds.
Description of bonds
(b) The bonds shall be known as “Department of Transportation -- County Transportation Bonds -- First Issue”.

Credits

Added by Acts 1977, c. 13, § 2, eff. July 1, 1977. Amended by Acts 1987, c. 414.
Formerly Art. 89B, § 211G-1.
MD Code, Transportation, § 3-303, MD TRANS § 3-303
Current through legislation effective through July 1, 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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