§ 3-510. Trust agreements authorizing bonds
West's Annotated Code of MarylandTransportation
MD Code, Transportation, § 3-510
§ 3-510. Trust agreements authorizing bonds
(a) Bonds under this subtitle may be authorized by trust agreement between the Department and a corporate trustee, which may be any trust company, or bank having trust powers, within or without the State. Any such trust agreement shall describe the source or sources of revenue to be pledged to pay debt service on the bonds and may contain:
(1) Subject to then existing agreements with bondholders or noteholders, provisions pledging or assigning all or any part of the revenues of the participating counties, mortgages or loans made by the participating counties or the security therefor, the proceeds of any bonds issued under this subtitle, or any combination of these and any other assets of the participating counties to secure payment of bonds;
Credits
Added by Acts 1993, c. 539.
MD Code, Transportation, § 3-510, MD TRANS § 3-510
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.
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