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Ch. 13
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118
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LAWS OF MARYLAND
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(A) POWER IN GENERAL.
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) DISCRETION TO SET TERMS.
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.
REVISOR'S NOTE: This section presently appears as
Art. 94A, §12 and §13(c) - except for the
parenthetical material of present §12(b)(iv),
which now appears in §4-303 of this subtitle.
The language of this section has been revised
to conform generally with the language of §§
3-202 and 3-203 of this article; see revisor's
notes to these sections.
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