(a) The Department may issue its bond anticipation notes, payable to the bearer or registered holder of the notes out of the first proceeds of the next sale of consolidated transportation bonds.
(b) The resolution authorizing the issuance of bond anticipation notes may provide for the issuance of these notes in series, as funds are required, and for the renewal of these notes at maturity, with or without resale.
(c) The issuance of bond anticipation notes, the details of their issuance, the rights of their holders, and the rights, duties, and obligations of the Department with respect to them are governed by the provisions of this subtitle relating to the issuance of the bonds in anticipation of the sale of which the notes are issued, insofar as those provisions may be applicable.
Structure Maryland Statutes
Title 3 - Financing by Department
Subtitle 2 - Consolidated Transportation Bonds
Section 3-201 - General Power to Borrow Money and Issue Evidences of Obligation
Section 3-202 - Power to Issue Bonds
Section 3-204 - Execution of Bonds
Section 3-205 - Bonds and Other Evidences of Obligation Are Investment Securities
Section 3-206 - Exemption From 8-206 and 8-208 of State Finance and Procurement Article
Section 3-207 - Approval by Board of Public Works
Section 3-208 - Refunding Bonds
Section 3-209 - Interim Certificates and Temporary Bonds
Section 3-210 - Bond Anticipation Notes
Section 3-211 - Revenue Anticipation Notes
Section 3-212 - Exemption From Taxation
Section 3-213 - Full Faith and Credit Not Pledged
Section 3-214 - Termination of Power to Issue Obligations Under Certain Other Laws
Section 3-215 - Tax to Pay Principal and Interest; Sinking Fund