By resolution of its board of directors, an authority may provide for the issuance of:
(1) Refunding bonds to refund any bonds of the authority that were issued under this subtitle and are outstanding; or
(2) A single issue of bonds to:
(i) Pay the cost of a project or of the improvement, extension, or reconstruction of or additions to a project; and
(ii) Refund bonds that:
1. Were issued under this subtitle and are outstanding; and
2. Have matured, are subject to redemption, or can be retired.
Structure Maryland Statutes
Title 9 - Water, Ice, and Sanitary Facilities
Subtitle 9 - Water and Sewer Authorities
Part IV - Bonds of Authorities
Section 9-928 - Purpose of Bonds
Section 9-929 - Nonapplicability of Other Laws
Section 9-930 - Bonds Not Pledge of Faith and Credit of State or Political Subdivision
Section 9-931 - Bonds Constitute Legal Investments
Section 9-932 - Power to Issue and Secure Bonds
Section 9-933 - Issuance and Sale of Bonds -- Generally
Section 9-935 - Temporary and Lost Bonds
Section 9-936 - Limitations on Issuance of Additional Bonds
Section 9-937 - Refunding Bonds; Joint Cost and Refunding Bonds
Section 9-938 - Securing Bonds by Resolution or Trust Agreement
Section 9-939 - Contents and Effect of Resolution or Trust Agreement
Section 9-940 - Holder of Bonds May Protect and Enforce Rights
Section 9-941 - Principal and Interest; Maturity; Form; Negotiability; Registration; Reconversion