Section 19-111 – Construction of Title
(a) The provisions of this title, being necessary for the welfare of the State and its inhabitants, shall be liberally construed to effect the purposes thereof. (b) The provisions of this title are severable, and if any of such provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of such court shall not […]
Section 19-112 – Short Title
This title may be referred to as the Auxiliary and Academic Facilities Bond Authority.
Section 20-101 – Established; Purposes; Members; Chair
(a) (1) There is a Maryland College Savings Bond Advisory Board. (2) The purpose of the Board is to advise the Board of Public Works on the issuance of college savings bonds authorized under § 8–123.3 of the State Finance and Procurement Article. (b) The Board shall consist of the following four members: (1) The State Treasurer; (2) The Secretary of […]
Section 20-102 – Duties
(a) (1) The Maryland College Savings Bond Advisory Board shall make recommendations to: (i) The Board of Public Works regarding the need for Maryland capital appreciation general obligation bonds to help citizens save for the costs of college; and (ii) In accordance with § 2–1257 of the State Government Article, the Governor and General Assembly on the establishment of […]
Section 19-102 – Powers and Duties of System Generally
(a) In order to provide auxiliary and academic facilities a system may: (1) Acquire, construct, reconstruct, equip, maintain, repair, renovate, and operate auxiliary and academic facilities at any of its campuses or locations, now existing or hereafter acquired; (2) (i) Issue bonds for the purpose of financing or refinancing all or any part of the costs of any 1 […]
Section 19-103 – Bonds — in General
(a) (1) A system may provide, by resolution, from time to time, for the issuance, in series, of its bonds for the purpose of: (i) Financing or refinancing all or any part of the costs of any 1 or more projects of a system, including any project previously financed by a system or any predecessor; or (ii) Acquiring any […]
Section 19-104 – Bonds — Trust Agreement
(a) Any bonds issued under the provisions of this title may be secured by a trust agreement between a system and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the State. (b) Any trust agreement may pledge or assign all or any part of […]
Section 19-105 – Contract for Use of or Admission to Facilities; Assignment or Pledge of Fees; Payment of Costs of Maintaining, Equipping, etc., Facilities
(a) A system may contract for the use of or admission to all or any part of any auxiliary facility or any academic facility that was authorized under the requirements of this title with any person, partnership, association, corporation, entity, or agency and may fix the terms, conditions, fees, rents, and rates of charges for use […]
Section 19-106 – Trust Funds
All money received by a system as proceeds from the sale of bonds authorized by this title and all money received by a system by way of auxiliary facilities fees or academic fees which are assigned or pledged as security for the bonds shall be deemed to be trust funds to be held and applied […]
Section 18-3703 – Adoption of Regulations
** TAKES EFFECT JULY 1, 2022 PER CHAPTER 59 OF 2021 ** (a) The Office shall adopt regulations to carry out this subtitle. (b) The regulations shall include a limit on the total amount of assistance provided by the Office in repaying the loan of an eligible individual, based on the individual’s total income and outstanding higher […]