Maryland Code, Housing and Community Development § 12-701
Current as of December 31, 2021 | Updated by FindLaw Staff
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(a) An authority may:
(1) issue bonds for any of its corporate purposes;
(2) issue refunding bonds to pay or retire its bonds; and
(3) issue any kinds of bonds, including bonds on which the principal and interest are payable:
(i) only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;
(ii) only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or
(iii) from its revenues generally.
(b) To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.
Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 12-701 - last updated December 31, 2021 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-12-701.html
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