Section 4-316 – Remedies of Bondholder and Trustee
Except to the extent restricted by the trust agreement, the trustee or any holder of revenue bonds issued under this subtitle or of any of the coupons appertaining to the bonds may: (1) Bring a suit, action, mandamus, or other proceeding at law or in equity to protect and enforce any right under the laws of […]
Section 4-317 – Bonds and Other Evidences of Obligation Are Legal Investments
All public officers and public agencies of this State and its political subdivisions, all banks, trust companies, savings and loan associations, investment companies, and others carrying on a banking business, all insurance companies, insurance associations, and others carrying on an insurance business, all personal representatives, guardians, trustees, and other fiduciaries, and all other persons may […]
Section 4-318 – Exemption From Taxation
The revenue bonds, notes, and other evidences of obligation issued under this subtitle, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, shall be exempt at all times from every kind and nature of taxation by this State or by any of […]
Section 4-319 – Full Faith and Credit Not Pledged
(a) The revenue bonds, notes, and other evidences of obligation issued under this subtitle are not and may not be considered to constitute a debt or a pledge of the faith and credit of the State of Maryland, but shall be payable only from the funds from or revenues provided by this subtitle for that purpose. […]
Section 4-320 – Limitation on Use of Federal Aid for Repayment of Bonds; Lien and Priorities in Event of Shortfall
If the Authority intends to pledge any future federal aid from any source to support repayment of any debt instrument issued under this subtitle: (1) The aggregate principal amount of debt issued under this subtitle or Title 3, Subtitle 6 of this article that is secured by a pledge of future federal aid may not exceed […]
Section 4-320.1 – Bond Anticipation Notes
(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 […]
Section 4-321 – Intercounty Connector
(a) In this section, “Intercounty Connector” means the east–west multimodal highway in Montgomery and Prince George’s counties between Interstate 270 and Interstate 95/U.S. Route 1, as described in the 2005 – 2010 Consolidated Transportation Plan. (b) The State and the Authority shall finance the Intercounty Connector as provided in this section. (c) The Authority shall: (1) Issue not more […]
Section 4-401 – Control of Entrances and Exits
If the Authority considers it necessary or desirable to insure the proper operation and maintenance of any transportation facilities project, it may designate, establish, limit, and control the entrances and exits of the project and may prohibit entrance or exit from any undesignated point.
Section 4-207 – Power to Condemn Land for Certain Purposes — Exemption of Authority From Taxation
Except for water and sewer charges imposed by this State or any of its agencies or political subdivisions, the Authority, its activities, and the property it owns or controls are exempt from all taxes, assessments, and charges, whether federal, State, or local, now or subsequently levied or imposed.
Section 4-310 – Bond Anticipation Notes
(a) The Authority may issue its bond anticipation notes, payable to the bearer or registered holder of the notes out of the first proceeds of the next sale of bonds issued under this subtitle. (b) The resolution authorizing the issuance of bond anticipation notes may provide for the issuance of these notes in series, as funds are […]