(a) Subject to § 3-515 of this subtitle, the Department may allow any county in this State to participate in an issue of bonds under this subtitle.
(b) On the date designated by the Department, a county that desires to participate shall notify the Department of:
(1) Its desire to participate in the proceeds of the next series of bonds to be issued under this subtitle;
(2) The proposed amount of its participation; and
(3) A description of the revenues to be pledged by the county to pay debt service on the bonds.
(c) The Department may extend the date for notification when appropriate.
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