§ 4-315. Money received deemed as trust funds
West's Annotated Code of MarylandTransportation
MD Code, Transportation, § 4-315
§ 4-315. Money received deemed as trust funds
All money that is received by the Authority as proceeds from the sale of revenue bonds, notes, or other evidences of obligation under this subtitle and by way of rentals, rates, fees, tolls, and other charges and revenues derived from any transportation facilities project or combination of projects and that is designated by any authorizing resolution or trust agreement as security for the bonds, notes, or other evidences of obligation shall be deemed to be trust funds to be held and applied only as provided in this subtitle.
Credits
Added by Acts 1977, c. 13, § 2, eff. July 1, 1977.
Formerly Art. 94A, § 19.
MD Code, Transportation, § 4-315, MD TRANS § 4-315
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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