Section 9-936 - Limitations on issuance of additional bonds. - Maryland Statutes

§ 9-936. Limitations on issuance of additional bonds.
 

(a)  Inclusion in resolution or trust agreement.- If an authority considers it necessary, the authority may include any limitation or restriction on the issuance of additional bonds: 

(1) In the resolution that provides for the issuance of bonds of the authority; or 

(2) In any trust agreement that secures the bonds. 

(b)  Issuance of additional bonds.- If a resolution or trust agreement places any limitation or restriction on the issuance of additional bonds, the authority shall honor the limitation or restriction when the authority issues additional bonds. 
 

[1985, ch. 173, § 2.]