2013 Maryland Code
HOUSING AND COMMUNITY DEVELOPMENT
§ 12-701 - Power to issue and secure bonds
§12-701.
(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.
(b) To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.
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