reglab/housing_qa huggingface dataset:
MD. Transportation Code Ann. §  3-510 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-510 - Bonds Authorized by Trust Agreements

    (a)    Bonds under this subtitle may be authorized by trust agreement between the Department and a corporate trustee, which may be any trust company, or bank having trust powers, within or without the State. Any such trust agreement shall describe the source or sources of revenue to be pledged to pay debt service on the bonds and may contain:        (1)    Subject to then existing agreements with bondholders or noteholders, provisions pledging or assigning all or any part of the revenues of the participating counties, mortgages or loans made by the participating counties or the security therefor, the proceeds of any bonds issued under this subtitle, or any combination of these and any other assets of the participating counties to secure payment of bonds;        (2)    Provisions protecting and enforcing rights and remedies of bondholders, including restrictions on the rights of holders, and covenants setting forth duties of or restrictions on the Department and the participating counties;        (3)    Provisions appointing one or more trust companies or banks with trust powers to act as depositaries of the proceeds of any bonds or notes. Any depositary bank or trust company incorporated in the State may furnish indemnifying bonds or pledge securities, as required by the Department;        (4)    Provisions as to custody, safeguarding, application, and investment of funds credited pursuant to this subtitle;        (5)    Provisions establishing and controlling all aspects of reserve funds, including debt service reserve funds;        (6)    Provisions for the payment of debt service on bonds and refunding bonds, including redemption premiums and interest; or        (7)    Any other provisions deemed reasonable and proper for the security of bondholders.    (b)    A trust agreement may provide that the bonds may be sold either at public or private sale and that the maturity of the bonds may not exceed 30 years after their date of issue.
MD. Transportation Code Ann. §  3-511 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-511 - Consent of Instrumentality, Agency, or Unit of State Not Required

    The Department may issue bonds under this subtitle:         (1)    Without obtaining the consent of any instrumentality, agency, or unit of this State; and        (2)    Without any proceedings or the happening of any conditions or things other than those specifically required by this subtitle.
MD. Transportation Code Ann. §  3-512 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-512 - Provisions for Payment of Bonds

    (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.
MD. Transportation Code Ann. §  3-513 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-513 - Bonds Not Debt of State or Department; Full Faith and Credit Not Pledged; Obligation of Participating Counties

    (a)    Bonds issued under this subtitle are not debt of the State or the Department.    (b)    Bonds issued under this subtitle are not and may not be considered to constitute a debt or a pledge of the faith and credit of the State of Maryland or the Department.    (c)    All bonds issued under this subtitle shall contain a statement on their face to the effect that:        (1)    Neither the State nor the Department is obligated to pay the principal of or the interest on them; and        (2)    Neither the faith and credit nor the taxing power of the State or the Department is pledged to the payment of the principal of or the interest on them.    (d)    Bonds issued under this subtitle are obligations of the participating counties.
MD. Transportation Code Ann. §  3-514 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-514 - Participation of Counties

    (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.
MD. Transportation Code Ann. §  3-515 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-515 - Determination of Amount; Subsequent Procedure

    (a)    After notification by the county, the Department shall determine the total amount of bonds that it should issue under this subtitle on behalf of participating counties, giving consideration to the amount of revenues from each county available to pay debt service on the bonds.    (b)    (1)    After making all necessary determinations, the Department shall notify the counties of the amount of bonds of the next series that the Department will issue on behalf of the counties.        (2)    The Department shall then issue and sell that amount of bonds under this subtitle as a part of the next series of bonds and shall disburse the net proceeds of that amount of the bonds pursuant to appropriate agreements with the participating counties, after deducting the counties’ proportionate share of the cost of the issuance of the bonds and the appropriate share of the Department’s costs of administering the program established under this subtitle which is attributable to each bond issue.
MD. Transportation Code Ann. §  3-516 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-516 - Requirements for Participation of Counties

    (a)    Counties which can demonstrate an ability to pay their proportionate share of debt service on the bonds may participate in the program only after:        (1)    The county’s participation in the program has been approved by a local ordinance or resolution enacted after public notice and public hearings as required in accordance with State and local public laws, charters, or ordinances; and        (2)    A list of projects which may be undertaken under the local program has been available for review by the public at the public hearing.    (b)    The obligations undertaken under this subtitle by participating counties, the borrowing which they represent, any pledge of the full faith and credit of the participating counties or any other guarantee of the participating counties, and the programs or projects being financed are subject to:        (1)    Any referendum requirements of the charter or other local law of the counties; and        (2)    Any limitation of the charter or local law on the rate of taxation or the aggregate amount of taxes that may be levied within the counties.
MD. Transportation Code Ann. §  3-517 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-517 - Agreement Between Department and County

    (a)    Before it sells any bonds under this subtitle, the Department shall enter into an agreement with each participating county as required by this section.    (b)    The agreement shall:        (1)    Specify that the bonds to be issued on behalf of the county will be repaid by the county under such terms and conditions as the Department and the counties deem appropriate;        (2)    Describe the source and nature of revenues the county will pledge to the repayment of the bonds, which revenues may include highway user revenues under § 8-401 of this article or any other revenues of the county; and        (3)    Describe any other terms or conditions that the Department deems necessary or appropriate to assure prompt and full repayment of the bonds.    (c)    The Department may pledge or assign all or a portion of its rights under agreements made pursuant to this section to guarantee repayment of bonds.    (d)    (1)    In order to enhance the security or the marketability of the bonds, a county may agree with the Department to pledge any moneys that the county is entitled to receive from the county’s share of highway user revenues, but a county may not pledge moneys that are pledged or dedicated to another purpose by State law.        (2)    In the event of such pledge, the State Comptroller and the State Treasurer may cause in accordance with the terms of such agreement such moneys to be paid to the Department or any trustee designated by the Department.
MD. Transportation Code Ann. §  3-518 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-518 - Borrowing of Proceeds; Agreements to Participate in Bond Issue; Payment Obligations

    (a)    Counties may borrow the proceeds of bonds issued under this subtitle and enter into agreements with the Department evidencing the counties’ obligation to repay such loans, pursuant to such terms and conditions as the Department and the counties deem appropriate.    (b)    A county may enter into any agreement necessary or appropriate to allow it to participate in a bond issue under this subtitle.    (c)    An agreement authorized by this subsection may have such provisions, terms, and conditions, and may be of such duration, as the county by ordinance or resolution may determine.    (d)    Except as provided in subsection (f) of this section, any payment obligation in an agreement authorized by this section may be either:        (1)    A general obligation of the county to which its full faith and credit and unlimited taxing power is pledged and which may not be subject to annual appropriation by the county; or        (2)    Any other obligation which the county is authorized to undertake.    (e)    A payment obligation in an agreement authorized by this section may be undertaken by a county pursuant to a public or private sale, with or without public bidding.    (f)    If a State constitutional provision limits a county in undertaking a payment obligation described in this section or requires a county to comply with certain procedures prior to undertaking a payment obligation described in this section, the county may provide that the payment obligation:        (1)    Is a limited obligation of the county repayable from assets and revenues as provided in the agreement; or        (2)    Is subject to annual appropriation by the county.    (g)    The obligations undertaken under this subtitle by participating counties, the borrowing which they represent, any pledge of the full faith and credit of the participating counties or any other guarantee of the participating counties, and the programs or projects being financed are not subject to any requirement of charter or local law as to the form or public sale of bonds or obligations of the counties.
MD. Transportation Code Ann. §  3-519 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 5 - County Transportation Revenue Bonds|Section 3-519 - Revenue Refunding Bonds

    (a)    The Department may from time to time issue revenue refunding bonds under this subtitle for:        (1)    Refunding any bonds issued under this subtitle, including the payment of any redemption premium on the bonds and any interest accrued or to accrue to the date of redemption of the bonds; and        (2)    Refunding any bonds issued under Subtitle 3 of this title.    (b)    This issuance of refunding bonds under this section, 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 revenue bonds, insofar as those provisions may be applicable, except that the issuance of such refunding bonds and the obligations with respect to them are not subject to the provisions of § 3-516 of this subtitle.
MD. Transportation Code Ann. §  3-603 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 6 - Special Bonds and Borrowings|Section 3-603 - Designation as Investment Securities; Exemption From Other Provisions

    (a)    Notwithstanding any other provision of law or any recitals in the instruments, the bonds, notes, and other evidences of obligation issued under this subtitle are investment securities under the laws of this State.    (b)    The bonds, notes, and other evidences of obligation issued under this subtitle and their issuance and sale are exempt from the provisions of §§ 8-206 and 8-208 of the State Finance and Procurement Article.
MD. Transportation Code Ann. §  3-604 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 6 - Special Bonds and Borrowings|Section 3-604 - Refunding Bonds

    (a)    The Department from time to time may issue its refunding bonds for refunding any special transportation project revenue bonds.    (b)    The powers granted and limitations imposed in this subtitle as to the issuance of special transportation project revenue bonds also apply to the issuance of refunding bonds.    (c)    The State Treasurer shall segregate the proceeds of the sale of any refunding bonds in a separate trust fund to be used only to pay the purchase or redemption prices of the bonds to be refunded.
MD. Transportation Code Ann. §  3-605 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 6 - Special Bonds and Borrowings|Section 3-605 - Temporary Bonds and Bond Anticipation Notes

    (a)    Before the preparation of definitive bonds, the Department may issue its interim certificates or temporary bonds, with or without coupons, exchangeable for definitive bonds when the definitive bonds have been executed and are available for delivery.    (b)    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 special transportation project revenue bonds.    (c)    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.    (d)    The issuance of bond anticipation notes, the details of issuance, the rights of their holders, and the rights, duties, and obligations of the Department with respect to the bond anticipation notes 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.
MD. Transportation Code Ann. §  3-606 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 6 - Special Bonds and Borrowings|Section 3-606 - Trust Agreement

    (a)    (1)    Bonds issued under this subtitle may be secured by a trust agreement between the Department and a corporate trustee, which may be any trust company or bank having trust powers within or without the State.        (2)    The trust agreement may pledge or assign:            (i)    All or any part of the existing and anticipated federal funds paid to or expected to be paid to the Department for transportation purposes; or            (ii)    Revenue from a dedicated revenue source, which may include revenues attributable to the transportation facilities being financed.        (3)    The trust agreement may not pledge or assign any State tax revenues pledged to meet debt service on Consolidated Transportation Bonds as prescribed under § 3–215 of this title.    (b)    Any trust agreement or bond authorizing resolution may:        (1)    Contain provisions for the protection and enforcement of the rights and remedies of bondholders as are considered reasonable and proper, including covenants setting forth the duties of the Department as to the financing or development of any transportation facility, the extension, enlargement, improvement, maintenance, operation, repair, and insurance of the transportation facility, and the custody, safeguarding, and application of money;        (2)    Provide for the employment of consulting engineers in connection with the construction or operation of any transportation facility;        (3)    Set forth the rights and remedies of the bondholders and of the trustee;        (4)    Restrict the individual right of action by bondholders; and        (5)    Contain any other provisions that the Department considers reasonable and proper for the security of the bondholders.    (c)    All expenses incurred in carrying out the trust agreement may be treated as a part of the cost of the operation of the transportation facility in connection with which the bonds have been issued.    (d)    The proceeds of the sale of bonds shall be paid to the trustee under the trust agreement securing the bonds and shall be disbursed in the manner and under the restrictions, if any, provided in the trust agreement.    (e)    Any bank or trust company incorporated under the laws of this State that acts as depositary of the proceeds of the bonds or of revenues may furnish any indemnifying bonds or pledge any securities that the Department requires.
MD. Transportation Code Ann. §  3-607 (2021)
2021 Maryland Statutes|Transportation|Title 3 - Financing by Department|Subtitle 6 - Special Bonds and Borrowings|Section 3-607 - Exemption From Taxation; Additional Limitations

    (a)    The bonds, notes, and other evidences of obligation issued under this subtitle, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, shall be exempt from taxation by this State or by any of its political subdivisions, municipal corporations, or public agencies.    (b)    The bonds, notes, and other evidences of obligation issued under this subtitle are not and may not be considered to constitute a debt or a pledge of the faith and credit of the State of Maryland, but shall be payable, as to both principal and interest, only from the proceeds of the revenues pledged or made available under this subtitle for this purpose.    (c)    The Department’s pledge of revenues and funds to secure its bonds, notes, and other evidences of obligation issued under this subtitle, shall be valid and binding against any person having a claim against the Department, and shall have priority over any such claim, regardless of whether the person has notice of the Department’s pledge.    (d)    Notwithstanding any other provision of law, the Department is only required to file or record in the records of the Department any resolution, trust agreement, or other instrument that creates a lien on, a security interest in, or an assignment of:        (1)    Any revenues;        (2)    Any rights to receive revenues; or        (3)    Any moneys or securities in the funds and accounts pledged to the bonds, notes, or other evidence of obligation of the Department.
MD. Transportation Code Ann. §  4-102 (2021)
2021 Maryland Statutes|Transportation|Title 4 - Revenue Facilities|Subtitle 1 - Definitions; General Provisions|Section 4-102 - Legislative Policy

    The exercise of the powers granted by this title is in all respects for the benefit of the people of this State and for the improvement of their health and living conditions, and the activities of the Authority and the operation and maintenance of its projects constitute essential governmental functions.
MD. Transportation Code Ann. §  4-201 (2021)
2021 Maryland Statutes|Transportation|Title 4 - Revenue Facilities|Subtitle 2 - Maryland Transportation Authority|Section 4-201 - Authority Established

    There is a Maryland Transportation Authority.
MD. Transportation Code Ann. §  4-202 (2021)
2021 Maryland Statutes|Transportation|Title 4 - Revenue Facilities|Subtitle 2 - Maryland Transportation Authority|Section 4-202 - Chairman; Composition; Tenure; Vacancies; Compensation and Expenses

    (a)    The Secretary of Transportation is the Chairman of the Authority.    (b)    (1)    In addition to the Chairman, the Authority consists of eight members appointed by the Governor with the advice and consent of the Senate.        (2)    The appointed members of the Authority may not be employees of the Executive Branch of the State government.        (3)    Of the appointed members:            (i)    One shall have expertise in structural engineering;            (ii)    One shall have expertise in transportation planning;            (iii)    One shall have expertise in land use planning; and            (iv)    One shall have expertise in finance.        (4)    The appointed members of the Authority shall reflect the racial, gender, and geographic diversity of the population of the State.    (c)    (1)    Each appointed member serves for a term of 4 years and until a successor is appointed and qualifies.        (2)    The terms of the appointed members are staggered as required by the terms provided for members of the Authority on January 1, 2007.        (3)    An appointed member may not serve more than three consecutive terms.        (4)    A member appointed to fill a vacancy in an unexpired term serves only for the remainder of that term.    (d)    A member of the Authority is entitled to:        (1)    The compensation provided in the State budget; and        (2)    Reimbursement for expenses, in accordance with the Standard State Travel Regulations of the Department of Budget and Management.
MD. Transportation Code Ann. §  4-203 (2021)
2021 Maryland Statutes|Transportation|Title 4 - Revenue Facilities|Subtitle 2 - Maryland Transportation Authority|Section 4-203 - Staff of Authority

    (a)    The Authority is entitled to the staff provided in the State budget.    (b)    The Secretary shall provide the Authority with the personnel of the Department that the Secretary considers necessary for performance of the maintenance and other functions required of the Authority to meet its obligations with respect to its transportation facilities projects.
MD. Transportation Code Ann. §  4-204 (2021)
2021 Maryland Statutes|Transportation|Title 4 - Revenue Facilities|Subtitle 2 - Maryland Transportation Authority|Section 4-204 - General Jurisdiction of Authority

    (a)    Acting on behalf of the Department, the Authority has those powers and duties relating to the supervision, financing, construction, operation, maintenance, and repair of transportation facilities projects as are granted to it by this title or any other provisions of law.    (b)    The Authority has general supervision over all transportation facilities projects.    (c)    The Authority shall finance, construct, operate, repair, and maintain in good order all transportation facilities projects.