(a) The bonds shall be payable solely from the revenues received by the Department from the participating counties for that purpose.
(b) The revenues of the State and the Department are not pledged, and may not be used, to pay the principal of or interest on the bonds.
(c) The Transportation Trust Fund established by § 3-216 of this title is not pledged, and may not be used, to pay the principal of or interest on the bonds.
Structure Maryland Statutes
Title 3 - Financing by Department
Subtitle 5 - County Transportation Revenue Bonds
Section 3-502 - Purpose of Subtitle
Section 3-503 - Bonds Authorized
Section 3-505 - Bonds Are Investment Securities
Section 3-506 - Exemption From 8-206 and 8-208 of State Finance and Procurement Article
Section 3-507 - Interim Certificates and Temporary Bonds
Section 3-508 - Bond Anticipation Notes
Section 3-509 - Exemption From Taxation
Section 3-510 - Bonds Authorized by Trust Agreements
Section 3-511 - Consent of Instrumentality, Agency, or Unit of State Not Required
Section 3-512 - Provisions for Payment of Bonds
Section 3-514 - Participation of Counties
Section 3-515 - Determination of Amount; Subsequent Procedure
Section 3-516 - Requirements for Participation of Counties
Section 3-517 - Agreement Between Department and County
Section 3-518 - Borrowing of Proceeds; Agreements to Participate in Bond Issue; Payment Obligations