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Ch. 601 1996 LAWS OF MARYLAND
13-1122. 13-1120.
(A) NO MEMBER OF THE AUTHORITY NOR ANY PERSON EXECUTING THE
BONDS OF THE AUTHORITY SHALL BE LIABLE PERSONALLY ON THE BONDS OR
SUBJECT TO ANY PERSONAL LIABILITY BY REASON OF THE ISSUANCE OF THE
BONDS.
(B) EXCEPT AS OTHERWISE PROVIDED BY AN APPLICABLE RESOLUTION OR
TRUST AGREEMENT, A HOLDER OF BONDS ISSUED UNDER THIS SUBTITLE, OR A
TRUSTEE ACTING UNDER A TRUST AGREEMENT ENTERED INTO UNDER THIS
SUBTITLE, MAY, BY ANY SUITABLE FORM OF LEGAL PROCEEDINGS, PROTECT AND
ENFORCE ANY RIGHTS GRANTED UNDER THE LAWS OF THIS STATE OR BY ANY
APPLICABLE RESOLUTION OR TRUST AGREEMENT.
13-1123. 13-1121.
(A) THE AUTHORITY MAY ISSUE BONDS TO REFUND ANY OF ITS BONDS THEN
OUTSTANDING, INCLUDING THE PAYMENT OF ANY REDEMPTION PREMIUM AND
ANY INTEREST ACCRUED OR TO ACCRUE TO THE EARLIEST OR ANY SUBSEQUENT
DATE OF REDEMPTION, PURCHASE, OR MATURITY OF THE BONDS.
(B) REFUNDING BONDS MAY BE ISSUED IN THE DISCRETION OF THE
AUTHORITY AND FOR ANY PURPOSE AUTHORIZED BY THIS SUBTITLE INCLUDING:
(1) (I) FOR THE PUBLIC PURPOSES OF REALIZING SAVINGS IN THE
EFFECTIVE COSTS OF DEBT SERVICE, DIRECTLY OR THROUGH A DEBT
RESTRUCTURING; OR
(II) FOR ALLEVIATING IMPENDING OR ACTUAL DEFAULT; AND OR
(III) FOR ANY OTHER PUBLIC PURPOSE THAT THE AUTHORITY
DETERMINES IS IN THE BEST INTERESTS OF AND CONSISTENT WITH THE
AUTHORITY'S LONG-TERM FINANCING PLAN. PLAN;
(2) IN ONE OR MORE SERIES; AND
(3) IN AN AMOUNT IN EXCESS OF THAT OF THE BONDS TO BE
REFUNDED.
13-1124. 13-1122.
(A) THE AUTHORITY MAY ENTER INTO AGREEMENTS WITH AGENTS, BANKS,
INSURERS, OR OTHERS FOR THE PURPOSE OF ENHANCING THE MARKETABILITY OF,
OR AS A SECURITY FOR, ITS BONDS.
(B) ANY FINANCIAL INSTITUTION, INVESTMENT COMPANY, INSURANCE
COMPANY OR ASSOCIATION, AND ANY PERSONAL REPRESENTATIVE, GUARDIAN,
TRUSTEE, OR OTHER FIDUCIARY, AND ANY OTHER PUBLIC OFFICER OR UNIT OF
THE STATE OR A SUBDIVISION OF THE STATE MAY LEGALLY INVEST ANY MONEYS
BELONGING TO THEM OR WITHIN THEIR CONTROL IN ANY BONDS ISSUED BY THE
AUTHORITY.
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