|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 650
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
2076
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(i) Prior to the preparation of definitive revenue bonds,
the Authority, under the restrictions, may issue temporary
revenue bonds with or without coupons, exchangeable for
definitive bonds upon the issuance of the latter. The Authority
also may provide for the replacement of any bonds which become
mutilated or are destroyed or lost. The bonds may be issued
without an election or any other proceedings or the happening of
any conditions or things other than those proceedings,
conditions, and things specified and required by this subtitle.
(j) A resolution providing for the issuance of revenue
bonds also may provide for the issuance of additional bonds and
may limit the amount by the resolution or trust indenture, for
the purpose of paying the cost of any extensions, additions, and
improvements which thereafter become necessary; the additional
bonds may be sold from time to time in the manner hereinabove
provided and shall be deemed a part of the original issue
authorized by the resolution, and shall be issued under such
restrictions and limitations as prescribed by the resolution or
trust indenture; but the additional bonds shall rank equally and
on a parity with the other bonds authorized thereby.
(k) The Authority may provide by resolution for the
issuance of its revenue refunding bonds for the purpose of
refunding any bonds then outstanding and issued under the
provisions of this section. The issuance of such refunding bonds,
the details thereof, the rights of the holders thereof, and the
duties of the Authority in respect to them shall be governed by
the provisions of this section insofar as applicable. The
refunding bonds shall mature at such time or times not exceeding
[forty (40)! 40 years from the date or dates of their respective
issues as determined by the Authority.
(1) The Authority may provide by resolution for the
issuance of a single issue of its revenue bonds for the combined
purposes of (1) paying the cost of any improvement, extension,
enlargement, or reconstruction of the market OR PARK and (2)
refunding its bonds theretofore issued for such market AND PARK
and then outstanding and which shall then have matured or be
subject to redemption or can be acquired for retirement. The
revenue refunding bonds shall mature at such time or times not
exceeding [forty (40)] 40 years from the date or dates of their
respective issues as may be determined by the Authority.
(m) All moneys received from any revenue bonds issued and
sold under the provisions of this section shall be applied solely
for the purposes for which the bonds are authorized or to the
sinking fund created for the payment of the bonds, and there is
created and granted a lien upon such moneys until so applied in
favor of the holders of the bonds or paid to the trustee
hereinafter provided for the bonds.
(n) In the discretion of the Authority, the revenue bonds
may be secured by a trust indenture by and between the Authority
and a corporate trustee, which may be any trust company or bank
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
