§ 4-306. Issuance of revenue bonds
West's Annotated Code of MarylandTransportationEffective: April 9, 2024
Effective: April 9, 2024
MD Code, Transportation, § 4-306
§ 4-306. Issuance of revenue bonds
(a) Except as provided in subsection (b) of this section, revenue bonds may be issued by the Authority:
(b)(1)(i) Subject to subparagraph (ii) of this paragraph, revenue bonds secured by toll revenue may be issued in any amount as long as the aggregate outstanding and unpaid principal balance of the revenue bonds secured by toll revenue and revenue bonds of prior issues does not exceed $4,000,000,000 on June 30 of any year.
(2) Except as otherwise provided in this section and § 4-205 of this title, without the approval of the General Assembly, the Authority may issue bonds to refinance all or any part of the cost of a transportation facility project for which the Authority previously issued bonds authorized under this subtitle.
Credits
Added by Acts 1977, c. 13, § 2, eff. July 1, 1977. Amended by Acts 2004, c. 430, § 1, eff. June 1, 2004; Acts 2004, c. 432, § 2, eff. June 1, 2004; Acts 2005, c. 471, § 1, eff. June 1, 2005; Acts 2005, c. 472, § 1, eff. June 1, 2005; Acts 2008, c. 567, § 1, eff. July 1, 2008; Acts 2015, c. 489, § 1, eff. June 1, 2015; Acts 2024, c. 2, § 1, eff. April 9, 2024; Acts 2024, c. 3, § 1, eff. April 9, 2024.
Formerly Art. 94A, § 2.
MD Code, Transportation, § 4-306, MD TRANS § 4-306
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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