§ 12–701
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 12-701 (2026)
Title 12. Provisions of Statewide Applicability
Subtitle 7. Bonds
§ 12–701LinkCopy Citation
(a)
An authority may:
(1)
issue bonds for any of its corporate purposes;
(2)
issue refunding bonds to pay or retire its bonds; and
(3)
issue any kinds of bonds, including bonds on which the principal and interest are payable:
(i)
only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;
(ii)
only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or
(iii)
from its revenues generally.
(b)
To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.