Maryland Statutes
Subtitle 7 - Bonds
Section 12-701 - Power to Issue and Secure Bonds

(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.

Structure Maryland Statutes