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§ 12-701. Power to issue and secure bonds

West's Annotated Code of MarylandHousing and Community Development

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division II. Housing Authorities [Titles 12-End] (Refs & Annos)
Title 12. Provisions of Statewide Applicability (Refs & Annos)
Subtitle 7. Bonds (Refs & Annos)
MD Code, Housing & Community Development, § 12-701
§ 12-701. Power to issue and secure bonds
Currentness
Issuing bonds
(a) An authority may:
(1) issue bonds for any of its corporate purposes;
(2) issue refunding bonds to pay or retire its bonds; and
(3) issue any kinds of bonds, including bonds on which the principal and interest are payable:
(i) only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;
(ii) only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or
(iii) from its revenues generally.
Securing bonds
(b) To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.

Credits

Added by Acts 2006, c. 63, § 2, eff. Oct. 1, 2006.
MD Code, Housing & Community Development, § 12-701, MD HOUS & CMTY DEV § 12-701
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.
End of Document