§ 4-320.1
95 words·~1 min read·
/md/transportation/4-320-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–320.1.
(a)The Authority may issue bond anticipation notes secured by a pledge of a line of credit extended to the State under the federal Transportation Infrastructure Finance and Innovation Act.
(b)Notes issued under this section shall have a maturity date of up to 3 years after the date of issue.
(c)A pledge of a line of credit as authorized under this section does not constitute the pledge of future federal revenues, and notes issued under this section are not subject to § 3–601(d) of this article or § 4–320 of this subtitle.