There is a newer version
of
this Section
2017 Maryland Code
Transportation
Title 3 - Financing by Department
Subtitle 2 - Consolidated Transportation Bonds
§ 3-208. Refunding bonds
Universal Citation: MD Transp Code § 3-208 (2017)
- (a) Power to issue. -- The Department from time to time may issue its refunding bonds for refunding any consolidated transportation bonds or bonds of prior issues.
- (b) Applicability of other provisions of subtitle. -- The powers granted and limitations imposed in this subtitle as to the issuance of consolidated transportation bonds also apply to the issuance of refunding bonds.
- (c) Treasurer to segregate proceeds. -- The State Treasurer shall segregate and set apart the proceeds of the sale of any refunding bonds in a separate trust fund to be used only to pay the purchase or redemption prices of the bonds to be refunded.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
