§ 13–1116
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 13-1116 (2026)
Title 13. State-Operated Financial Programs
Subtitle 11. Heritage Areas
§ 13–1116LinkCopy Citation
(a)
The bonds of any issue shall be payable solely from the property or receipts of the Authority, including without limitation:
(1)
Fees, charges, or other revenues payable to the Authority;
(2)
Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;
(3)
Investment earnings from funds or accounts maintained under a bond resolution or trust agreement;
(4)
Proceeds of refunding bonds; and
(5)
Any other source authorized by law.
(b)
The bonds do not constitute a debt, liability, or pledge of full faith and credit of the State and may not be deemed to constitute a debt, liability, or pledge of the full faith and credit of the State.