§ 10-848
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/md/economic-development/10-848A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–848.
(a)The Center may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.
(b)Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
(c)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)The Center may issue bond anticipation notes to pay any other bond anticipation notes.
(e)Bond anticipation notes shall be paid from:
(1)revenues of the Center;
(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.