(a) The principal of and interest on bonds, the transfer of bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from State and local taxes.
(b) A contract for a resilience infrastructure project may provide that payment shall be made in bonds.
(c) A bond is not subject to the limitations of §§ 19–205 and 19–206 of this article.
Structure Maryland Statutes
Title 22 - Resilience Infrastructure
Section 22-103 - Appointment or Hire of Officers and Employees -- Personnel Matters
Section 22-104 - Use of Net Earnings
Section 22-105 - Powers of Resilience Authority
Section 22-106 - Issuance and Sale of Bonds by Resilience Authority
Section 22-107 - Resolution by Resilience Authority on Bond Issue
Section 22-108 - Exemption From State and Local Taxes -- Payment in Bonds
Section 22-109 - Findings Conclusive as to Public Purpose
Section 22-110 - Repayment of Bonds and Support of Operations
Section 22-111 - Authority Established by Multiple Counties or Municipalities
Section 22-112 - Authority Established by Multiple Local Governments -- Tax Levy Authorized