Section 10-848 - Bond anticipation notes. - Maryland Statutes

§ 10-848. Bond anticipation notes.
 

(a)  Authority to issue.- The Center may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose. 

(b)  Manner of issuance.- Bond anticipation notes issued under this section shall be issued in the same manner as bonds. 

(c)  Contents of notes and resolution.- Bond anticipation notes issued under this section and the resolution authorizing them may contain any provisions, conditions, or limitations that may be included in a trust agreement. 

(d)  Payment of other notes.- The Center may issue bond anticipation notes to pay any other bond anticipation notes. 

(e)  Payment.- Bond anticipation notes shall be paid from: 

(1) revenues of the Center; 

(2) money available and not otherwise pledged; or 

(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued. 
 

[2008, ch. 137.]