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MARVIN MANDEL, Governor 85
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refunding bonds is deleted as unnecessary in
light of §3-201 of this subtitle.
The only other changes are in style.
3-209. INTERIM CERTIFICATES AND TEMPORARY BONDS.
BEFORE THE PREPARATION OF DEFINITIVE BONDS, THE
DEPARTMENT MAY ISSUE ITS INTERIM CERTIFICATES OR
TEMPORARY BONDS, WITH OR WITHOUT COUPONS, EXCHANGEABLE
FOR DEFINITIVE BONDS WHEN THE DEFINITIVE BONDS HAVE BEEN
EXECUTED AND ARE AVAILABLE FOR DELIVERY.
REVISOR'S NOTE: This section presently appears as
Art. 94A, §7(i).
The word "may" is substituted for "authorized
and empowered"; see revisor's note to §3—201
of this subtitle. Also, the present reference
to a "resolution" authorizing the issuance of
interim certificates and temporary bonds is
deleted as unnecessary in light of §3-201 of
this subtitle.
The only other changes are in style.
3-210. BOND ANTICIPATION NOTES.
(A) POWER TO ISSUE.
THE DEPARTMENT MAY ISSUE ITS BOND ANTICIPATION
NOTES, PAYABLE TO THE BEARER OR REGISTERED HOLDER OF
THE NOTES OUT OF THE FIRST PROCEEDS OF THE NEXT SALE OF
CONSOLIDATED TRANSPORTATION BONDS.
(B) DISCRETION TO SET TERMS.
THE RESOLUTION AUTHORIZING THE ISSUANCE OF BOND
ANTICIPATION NOTES MAY PROVIDE FOR THE ISSUANCE OF THESE
NOTES IN SERIES, AS FUNDS ARE REQUIRED, AND FOR THE
RENEWAL OF THESE NOTES AT MATURITY, WITH OR WITHOUT
RESALE.
(C) TERMS AND CONDITIONS.
THE ISSUANCE OF BOND ANTICIPATION NOTES, THE
DETAILS OF THEIR ISSUANCE, THE RIGHTS OF THEIR HOLDERS,
AND THE RIGHTS, DUTIES, AND OBLIGATIONS OF THE DEPARTMENT
WITH RESPECT TO THEM ARE GOVERNED BY THE PROVISIONS OF
THIS SUBTITLE RELATING TO THE ISSUANCE OF THE BONDS IN
ANTICIPATION OF THE SALE OF WHICH THE NOTES ARE ISSUED,
INSOFAR AS THOSE PROVISIONS MAY BE APPLICABLE.
REVISOR'S NOTE: This section presently appears as
Art. 94A, §7(ii).
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In subsection (a) of this section, the present
reference to the power of the Department to
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