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§ 3-604. Issuance of refunding bonds

West's Annotated Code of MarylandTransportation

West's Annotated Code of Maryland
Transportation
Title 3. Financing by Department (Refs & Annos)
Subtitle 6. Special Bonds and Borrowings (Refs & Annos)
MD Code, Transportation, § 3-604
§ 3-604. Issuance of refunding bonds
Currentness
In general
(a) The Department from time to time may issue its refunding bonds for refunding any special transportation project revenue bonds.
Powers and limitations relating to issuance
(b) The powers granted and limitations imposed in this subtitle as to the issuance of special transportation project revenue bonds also apply to the issuance of refunding bonds.
Segregation of bond proceeds
(c) The State Treasurer shall segregate the proceeds of the sale of any refunding bonds in a separate trust fund to be used only to pay the purchase or redemption prices of the bonds to be refunded.

Credits

Added by Acts 2002, c. 470, § 1, eff. June 1, 2002.
MD Code, Transportation, § 3-604, MD TRANS § 3-604
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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