§ 3-504. Resolution authorizing issuance of bonds
West's Annotated Code of MarylandTransportation
MD Code, Transportation, § 3-504
§ 3-504. Resolution authorizing issuance of bonds
(a) A resolution authorizing the issuance of bonds under this subtitle shall determine and specify:
(5) Whether the bonds are to be issued in coupon, registered or book entry form and whether provision is to be made for the registration of the principal only of coupon bonds, for the reconversion of fully registered bonds into coupon form, and for the replacement of bonds that are mutilated, lost, or destroyed;
(7) If the bonds are to be sold at public sale, the form of notice of sale, which shall outline the terms and conditions of the sale, and the form of advertisement of a summary notice of sale, which shall be published at least once in an appropriate newspaper of general circulation as determined by the Secretary;
(b)(1) The resolution may provide that the Secretary may postpone the time for receipt of proposals for the bonds without republishing the form of advertisement for the bonds.
(c)(1) Bonds shall be executed by the manual or facsimile signature of the Secretary.
(d) If an individual whose manual or facsimile signature appears on any bond or coupon ceases to serve in an authorized capacity before the delivery of the bond, the signature nevertheless is as valid and sufficient for all purposes as if the individual had remained in that capacity until delivery of the bond.
Credits
Added by Acts 1993, c. 539.
MD Code, Transportation, § 3-504, MD TRANS § 3-504
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |