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 4-307 – 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 4-310 – 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 4-311 – 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 […]
Section 4-311.1 – Vehicle Parking Facility Financing
(a) This section applies to the financing of a vehicle parking facility not located at a transportation facility, as defined in § 3-101 of this article. (b) (1) Revenues from a vehicle parking facility shall be used to pay all operating and maintenance costs and the service on any debt for each year the debt is outstanding and […]
Section 4-312 – Charges for Transportation Facilities Projects
(a) (1) Notwithstanding the provisions of Section 3, § 20 and Section 4, § 16 of Chapter 608 of the Acts of the General Assembly of 1976, tolls may continue to be charged on the John F. Kennedy Memorial Highway and any project constructed under the provisions of Section 3 (Bridge, Tunnel, and Motorway Revenue Bonds) of […]
Section 4-301 – General Power to Borrow Money and Issue Evidences of Obligation
By one or more resolutions, the Authority may: (1) Finance the cost of transportation facilities projects; (2) Borrow money from time to time for that purpose; and (3) Evidence the borrowing by the issuance and sale of revenue bonds, notes, or other evidences of obligation on the terms, conditions, and limitations contained in this subtitle.
Section 4-302 – Power to Issue Revenue Bonds and Determine Related Matters
(a) Except as provided in § 4-306(b) of this subtitle, without limiting the power of the Authority to issue additional revenue bonds under the provisions of law that authorize the issuance of revenue bonds of prior issues, the Authority from time to time may issue its revenue bonds to finance the cost of any one or […]