Section 4-304 – Bonds and Other Evidences of Obligation Are Investment Securities
Notwithstanding any other provision of law or any recitals in the instruments, the revenue bonds, notes, and other evidences of obligation issued under this subtitle are investment securities under the laws of this State.
Section 4-305 – Exemption From 8-206 and 8-208 of State Finance and Procurement Article
The revenue bonds, notes, and other evidences of obligation issued under this subtitle and their issuance and sale are exempt from the provisions of §§ 8-206 and 8-208 of the State Finance and Procurement Article, and the Authority may sell them at either public or private sale in the manner and for the price that […]
Section 4-306 – Other Approval Not Required; Exceptions
(a) Except as provided in subsection (b) of this section, revenue bonds may be issued by the Authority: (1) Without obtaining the consent of any instrumentality, agency, or unit of this State; and (2) Without any proceedings or the happening of any conditions or things other than those specifically required by this subtitle. (b) (1) (i) Subject to subparagraph (ii) of […]
Section 4-307 – Additional Bonds
(a) Subject to the provisions of §§ 4-306(b), 4-320, and 4-321 of this subtitle, if by reason of increased construction costs, error in estimates, or otherwise, the proceeds of the revenue bonds of any issue are less than the amount required for the purpose for which the bonds are authorized, additional revenue bonds may be issued […]
Section 4-308 – Revenue Refunding Bonds
(a) The Authority from time to time may issue its revenue refunding bonds for: (1) Refunding any bonds issued under this subtitle or any revenue bonds of prior issues, including the payment of any redemption premium on the bonds and any interest accrued or to accrue to the date of redemption of the bonds; (2) Constructing improvements or […]
Section 4-309 – Interim Certificates and Temporary Bonds
Before the preparation of definitive bonds, the Authority may issue its interim certificates or temporary bonds, with or without coupons, exchangeable for definitive bonds when the definitive bonds have been executed and are available for delivery.
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 […]
Section 4-208 – Maryland Transportation Authority Police Force
(a) (1) There is a Maryland Transportation Authority Police Force. (2) Subject to subsection (b) of this section, a Maryland Transportation Authority police officer has all the powers granted to a peace officer and a police officer of this State. (b) (1) A Maryland Transportation Authority police officer may exercise the powers described in subsection (a)(2) of this section on […]
Section 4-311 – Trust Agreement Securing Bonds
(a) (1) Revenue bonds issued under this subtitle may be secured by a trust agreement between the Authority and a corporate trustee, which may be any trust company or bank having trust powers within or without this State. (2) The trust agreement may pledge or assign all or any part of the revenues of the Authority or of […]