# Housing and Community Development (GHS)

## Title 12. Provisions of Statewide Applicability

### Subtitle 7. Bonds

#### Section 12-701

(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.

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Md. Code Ann., Hous. & Cmty. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)