Maryland Statutes
Part III - Bonds
Section 10-329 - Sinking Fund -- Nature and Application

A sinking fund:
        (1)    may be held:
            (i)    for all of the bonds issued to finance projects at a particular participating institution without distinction or priority of one bond over another bond;
            (ii)    for a particular project and for the bonds issued for that project; and
            (iii)    for bonds having a lien subordinate to the lien securing other bonds; and
        (2)    shall be subject to the trust agreement.

Structure Maryland Statutes