§ 13-1018
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/md/financial-institutions/13-1018A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§13–1018.
(a)Subject to this part, the Authority may at any time and from time to time issue bonds for any corporate purpose, including the establishment of reserves and the payment of interest.
(b)The Authority:
(1)Shall by resolution authorize any bonds that it issues; and
(2)May secure the bonds by a trust agreement between the Authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or without the State.
(c)The Authority shall notify the Board of Public Works of its intention to issue bonds up to a stated amount.