Section 4-320.1 - Bond anticipation notes. - Maryland Statutes

§ 4-320.1. Bond anticipation notes.
 

(a)  Issuance.- The Authority may issue bond anticipation notes secured by a pledge of a line of credit extended to the State under the federal Transportation Infrastructure Finance and Innovation Act. 

(b)  Maturity date.- Notes issued under this section shall have a maturity date of up to 3 years after the date of issue. 

(c)  Pledge of a line of credit.- A pledge of a line of credit as authorized under this section does not constitute the pledge of future federal revenues, and notes issued under this section are not subject to § 3-601(d) of this article or § 4-320 of this subtitle. 
 

[2008, ch. 567, § 1.]