(a) Subject to this Part IV of this subtitle, the Commission may at any time and from time to time issue bonds, bond anticipation notes, or other obligations, (herein referred to as “bonds”), and may use the proceeds or the earnings from the investment thereon for any authorized purpose, including the establishment of reserves and the […]
(a) The bonds of any issue shall be payable solely from the property or receipts of the Commission, including: (1) Fees, charges, rents, or other revenues payable to the Commission; (2) Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements; (3) Investment earnings from funds or accounts […]
The bonds that the Commission issues shall: (1) Be issued at, above, or below par value, for cash or other valuable consideration, and mature at a time or times, whether as serial bonds or as term bonds or both, not exceeding 30 years from their respective dates of issue; (2) Bear interest at the fixed or variable […]
(a) Any resolution or trust agreement the Commission adopts or enters into under this subtitle may contain provisions that: (1) Pledge, assign, or direct the use, investment, or disposition of all or a portion of the receipts of the Commission or all or a portion of the proceeds or benefits of any contract and convey or otherwise […]
(a) A pledge by the Commission of revenues as security for an issue of bonds shall be valid and binding from the time when the documents evidencing the pledge are executed by the Commission. (b) (1) The revenues that the Commission pledges may be made immediately subject to the lien of the pledge without any physical delivery or […]
(a) A member of the Commission, or any person executing the bonds, is not liable personally on the bonds or subject to any personal liability by reason of the issuance of the bonds. (b) Except as otherwise provided by an applicable resolution or trust agreement, a holder of bonds issued under this subtitle, or a trustee acting […]
(a) The Commission may issue bonds to refund any of its bonds then outstanding, including the payment of any redemption premium and any interest accrued or to accrue to the earliest or any subsequent date of redemption, purchase, or maturity of the bonds. (b) Refunding bonds may be issued: (1) (i) For the public purposes of realizing savings in […]
(a) The Commission may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of, or as a security for, its bonds. (b) Any financial institution, investment company, insurance company or association, and any personal representative, guardian, trustee, or other fiduciary, may legally invest any money belonging to them or within […]
(a) The bonds of the Commission, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, are exempt at all times from every kind of taxation by this State or by any of its political subdivisions, municipal corporations, or public agencies. (b) (1) Subject to paragraph […]
