2013 Maryland Code
§ 4-302 - Power to issue revenue bonds and determine related matters

MD Transp Code § 4-302 (2013) What's This?


(a) Except as provided in § 4-306(b) of this subtitle, without limiting the power of the Authority to issue additional revenue bonds under the provisions of law that authorize the issuance of revenue bonds of prior issues, the Authority from time to time may issue its revenue bonds to finance the cost of any one or more or combination of transportation facilities projects.

(b) As to revenue bonds of any issue, the Authority may determine:

(1) The date or dates of issue;

(2) The date or dates and amount or amounts of maturity, which need not be in equal principal amounts or consecutive annual installments, but a bond may not be issued to mature later than 40 years after the date of its issue;

(3) The rate or rates of interest payable on the bonds, or the manner of determining the rate or rates of interest, and the date or dates of payment of interest;

(4) The tenor, form or forms, denomination or denominations, manner of execution, and place or places of payment of the principal of and interest on the bonds, which may be at any bank or trust company within or without this State;

(5) Whether the bonds are to be issued in coupon or registered form or both and whether provision is to be made for the registration of the principal only of coupon bonds, for the reconversion of fully registered bonds into coupon form, and for the replacement of bonds that are mutilated, lost, or destroyed;

(6) Whether all or any part of the bonds are redeemable before maturity and, if so, the terms, conditions, and prices of redemption; and

(7) Any other matter relating to the form, terms, conditions, issuance, sale, and delivery of the bonds.

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