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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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ECONOMIC DEVELOPMENT |
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DIVISION II. INDEPENDENT AND REGIONAL DEVELOPMENT UNITS AND RESOURCES |
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TITLE 10. STATEWIDE DEVELOPMENT RESOURCES AND REVENUE AUTHORITIES |
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SUBTITLE 3. MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY |
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PART III. BONDS |
§ 10-334. Bond anticipation notes
Latest version.
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(a) Authority to issue. -- The Authority may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.
(b) Manner of issuance. -- Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
(c) Contents of notes and resolution. -- Bond anticipation notes issued under this section and the resolution authorizing them may contain any provisions, conditions, or limitations that may be included in a trust agreement.
(d) Payment of other notes. -- The Authority may issue bond anticipation notes to pay any other bond anticipation notes.
(e) Payment. -- Bond anticipation notes shall be paid from:
(1) revenues of the Authority;
(2) money available and not otherwise pledged; or
(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued.