(a) Resolution.- The Corporation may authorize the issuance of revenue bonds by resolution.
(b) Timing.- The Corporation may issue the bonds at one time or in one or more series from time to time.
(c) Terms and conditions.- The Corporation shall determine:
(1) the date of the bonds;
(2) the maturity dates of the bonds, which may not exceed 40 years from the date of issue;
(3) the interest rates on the bonds;
(4) the medium of payment of the principal of and interest on the bonds;
(5) the form of the bonds;
(6) the manner of executing the bonds;
(7) the denominations of the bonds; and
(8) the place at which the principal of and interest on the bonds will be payable, including at a bank or trust company in or outside the State.
(d) Validity of signature.- An officer's signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(e) Negotiability.-
(1) Between successive holders, bonds are negotiable instruments under Title 3 of the Maryland Uniform Commercial Code.
(2) Bonds may be registrable.
(f) Sale.-
(1) The Corporation shall sell the bonds by competitive or negotiated sale in a manner and for a price the Corporation determines to be in its best interests.
(2) Bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(g) Escrow.- Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
(a) Resolution.- The Corporation may authorize the issuance of revenue bonds by resolution.
(b) Timing.- The Corporation may issue the bonds at one time or in one or more series from time to time.
(c) Terms and conditions.- The Corporation shall determine:
(1) the date of the bonds;
(2) the maturity dates of the bonds, which may not exceed 40 years from the date of issue;
(3) the interest rates on the bonds;
(4) the medium of payment of the principal of and interest on the bonds;
(5) the form of the bonds;
(6) the manner of executing the bonds;
(7) the denominations of the bonds; and
(8) the place at which the principal of and interest on the bonds will be payable, including at a bank or trust company in or outside the State.
(d) Validity of signature.- An officer's signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(e) Negotiability.-
(1) Between successive holders, bonds are negotiable instruments under Title 3 of the Maryland Uniform Commercial Code.
(2) Bonds may be registrable.
(f) Sale.-
(1) The Corporation shall sell the bonds by competitive or negotiated sale in a manner and for a price the Corporation determines to be in its best interests.
(2) Bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(g) Escrow.- Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
(a) Resolution.- The Corporation may authorize the issuance of revenue bonds by resolution.
(b) Timing.- The Corporation may issue the bonds at one time or in one or more series from time to time.
(c) Terms and conditions.- The Corporation shall determine:
(1) the date of the bonds;
(2) the maturity dates of the bonds, which may not exceed 40 years from the date of issue;
(3) the interest rates on the bonds;
(4) the medium of payment of the principal of and interest on the bonds;
(5) the form of the bonds;
(6) the manner of executing the bonds;
(7) the denominations of the bonds; and
(8) the place at which the principal of and interest on the bonds will be payable, including at a bank or trust company in or outside the State.
(d) Validity of signature.- An officer's signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(e) Negotiability.-
(1) Between successive holders, bonds are negotiable instruments under Title 3 of the Maryland Uniform Commercial Code.
(2) Bonds may be registrable.
(f) Sale.-
(1) The Corporation shall sell the bonds by competitive or negotiated sale in a manner and for a price the Corporation determines to be in its best interests.
(2) Bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(g) Escrow.- Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
