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§ 1-1429. Bond anticipation notes

West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2017

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division I. Definitions; General Provisions [Titles 1-3] (Refs & Annos)
Title 1. Definitions; General Provisions (Refs & Annos)
Subtitle 14. Establishment of Land Bank Authorities (Refs & Annos)
Effective: October 1, 2017
MD Code, Local Government, § 1-1429
Formerly cited as MD LOCAL GOVT § 5-429Formerly cited as MD CODE, Art. 23A, § 80
§ 1-1429. Bond anticipation notes
Currentness
Issuance
(a) An authority may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.
Manner
(b) Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
Provisions, conditions, or limitations
(c) Bond anticipation notes issued under this section and the resolution authorizing them may contain any provision, condition, or limitation that may be included in a trust agreement.
Payment of other bond anticipation notes
(d) An authority may issue bond anticipation notes to pay any other bond anticipation notes.
Payment
(e) Bond anticipation notes shall be paid from:
(1) money available and not otherwise pledged;
(2) revenues of the authority; or
(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued.

Credits

Added as Local Government § 5-429 by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Renumbered as Local Government § 1-1429 by Acts 2017, c. 618, § 1, eff. Oct. 1, 2017; Acts 2017, c. 619, § 1, eff. Oct. 1, 2017.
MD Code, Local Government, § 1-1429, MD LOCAL GOVT § 1-1429
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document