§ 3-602. Special transportation project revenue bonds
West's Annotated Code of MarylandTransportation
MD Code, Transportation, § 3-602
§ 3-602. Special transportation project revenue bonds
(a) Bonds issued by the Department under this subtitle shall be known as “special transportation project revenue bonds”.
(b) A resolution authorizing the issuance of special transportation project revenue bonds shall:
(vi) 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;
(c)(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.
(d)(1) Special transportation project revenue bonds shall be executed on behalf of the Department by the manual or facsimile signature of the Secretary.
(3) 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.
(e) Forty-five days before each issuance of bonds under this section, the Department must report the proposed issuance to the Legislative Policy Committee for review and comment.
Credits
Added by Acts 2002, c. 470, § 1, eff. June 1, 2002.
MD Code, Transportation, § 3-602, MD TRANS § 3-602
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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