Section 13-1116 – Bonds Payable From Receipts of Authority
(a) The bonds of any issue shall be payable solely from the property or receipts of the Authority, including without limitation: (1) Fees, charges, or other revenues payable to the Authority; (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 […]
Section 13-1117 – Requirements of Bonds Issued
The bonds that the Authority 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 the maturity date established by the Authority; (2) Bear interest at the fixed or variable rate […]
Section 13-1118 – Resolutions or Trust Agreements
(a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1115 of 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 Authority or all or a portion of the proceeds or benefits of any contract and […]
Section 13-1119 – Pledge of Revenues as Security for Issue of Bonds
(a) A pledge by the Authority of revenues as security for an issue of bonds shall be valid and binding on and after the date when the documents evidencing the pledge are executed by the Authority. (b) (1) The revenues that the Authority pledges may be made immediately subject to the lien of the pledge without any physical […]
Section 13-1120 – Liability
No member of the Authority nor any person executing the bonds of the Authority shall be liable personally on the bonds or subject to any personal liability by reason of the issuance of the bonds.
Section 13-1105 – Quorum; Required Vote; Meetings; Compensation
(a) Nine voting members of the Authority are a quorum. (b) An action of the Authority must receive the affirmative vote of at least a majority of the voting members of the Authority. (c) The Authority shall determine the times and places of its meetings. (d) A member of the Authority: (1) May not receive compensation; but (2) Is entitled to […]
Section 13-1121 – Refunding Bonds
(a) The Authority 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 in the discretion of the Authority and for […]
Section 13-1106 – Staff
(a) In accordance with the State budget, the Maryland Historical Trust shall dedicate administrative staff for the Authority. (b) (1) As the Authority considers appropriate, the Authority may request other units of State government to detail staff or provide technical assistance to recognized and certified heritage areas. (2) On request of the Authority, other units of State government may […]
Section 13-1122 – Agreements to Enhance Marketability or to Provide Security; Investments in Bonds
(a) The Authority 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, any personal representative, guardian, trustee, or other fiduciary, and any other public officer or unit of the State or […]
Section 13-1107 – General Powers of Authority
In addition to the powers set forth elsewhere in this subtitle, the Authority may: (1) Recognize heritage areas in accordance with § 13-1110 of this subtitle and certify recognized heritage areas in accordance with § 13-1111 of this subtitle; (2) Approve or reject management plans for certified heritage areas in accordance with § 13-1111 of this subtitle; […]