Section 10-349 - Bond issuance. - Maryland Statutes

§ 10-349. Bond issuance.
 

(a)  In general.- The Authority may issue bonds to finance or otherwise provide for the payment of public obligations or closure costs of a hospital in accordance with a plan developed under § 10-348 of this subtitle. 

(b)  Requirements.- The bonds issued under subsection (a) of this section shall: 

(1) be payable from the fees provided under § 10-350 of this subtitle or from other sources provided in the plan; 

(2) be authorized, sold, executed, and delivered in accordance with this subtitle; and 

(3) have terms consistent with constitutional and other legal requirements. 

(c)  Assignment of rights.- In connection with the issuance of any bond, the Authority may assign its rights under a loan, lease, or other financing agreement between the Authority or any other issuer of a public obligation and the closed or delicensed hospital to the State or a State unit in consideration for the payment of a public obligation as provided in this part. 
 

[An. Code 1957, art. 43C, § 16A(j); 2008, ch. 306, § 2.]