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§ 3-512. Payment of bonds

West's Annotated Code of MarylandTransportation

West's Annotated Code of Maryland
Transportation
Title 3. Financing by Department (Refs & Annos)
Subtitle 5. County Transportation Revenue Bonds (Refs & Annos)
MD Code, Transportation, § 3-512
§ 3-512. Payment of bonds
Currentness
Revenues from counties
(a) The bonds shall be payable solely from the revenues received by the Department from the participating counties for that purpose.
Revenues from State and Department
(b) The revenues of the State and the Department are not pledged, and may not be used, to pay the principal of or interest on the bonds.
Transportation Trust Fund
(c) The Transportation Trust Fund established by § 3-216 of this title is not pledged, and may not be used, to pay the principal of or interest on the bonds.

Credits

Added by Acts 1993, c. 539.
MD Code, Transportation, § 3-512, MD TRANS § 3-512
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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