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Terms Used In Maryland Code, NATURAL RESOURCES 3-907

  • Bonds: means all bonds, bond anticipation notes, revenue anticipation notes, grant anticipation notes, or other evidences of indebtedness of the Authority, whether general or limited obligations of the Authority. See
  • Cost: shall include the purchase price of any project or the cost of acquiring all or any portion of the right, title, or interest of a project and the amount to be paid to discharge all obligations necessary or desirable to vest title to the project or any part thereof in the Authority or other owner; the cost of any reconstruction, extension, enlargement, alteration, repair or improvement; the cost of all lands, properties, rights, easements, franchises, and permits; the cost of all labor, machinery, and equipment; financing charges; interest prior to and during construction and if, deemed desirable by the Authority, for a limited period after the completion of construction; reserves for principal and interest and for extensions, enlargements, additions and improvements; the cost of revenue estimates, engineering and legal services, plans, designs, specifications, surveys, investigations, demonstrations, studies, estimates of cost, other expenses necessary or incident to determining the feasibility or practicability of any such acquisition, improvement, repair or construction; administrative expenses, and other expenses as necessary or incident to the financings herein authorized, and to the acquisition, operation, maintenance, improvement, construction of a project and the placing of the same in operation by the Authority, including reasonable provision for working capital. See
  • Revenues: means , but is not necessarily limited to, all money received by the Authority from or in connection with any project, including (without limitation) grants, rentals, rates, fees, charges for the use of the services furnished or available and all other income inuring to the Authority; provided that the Authority, from time to time, may further define or limit the term "revenues" as applied to a particular project, financing, or other matter. See
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
  • Subdivision: means any county, municipal corporation, sanitary district, State or local agency, or other public body or agency created or established by or pursuant to State or local law, ordinance, or resolution. See
(a) The Authority is hereby authorized and empowered, by resolution, to issue bonds for the purpose of financing the cost of one or more projects or for any other corporate purpose. Except as may otherwise be expressly provided by the Authority, every issue of its bonds shall be general obligations of the Authority payable from any revenues or money of the Authority available therefor and not otherwise pledged, subject only to any agreements with holders of particular bonds pledging any particular revenues or money and to any agreements with any persons or subdivisions. The Authority may issue its bonds without obtaining the consent of any board, agency, department or unit of the State, and without any other proceedings or the happening of any conditions or things other than those specifically required hereunder. The Authority and the Maryland Environmental Service may enter into agreements providing for (i) the financing by the issuance of bonds of the Maryland Environmental Service of projects provided for any subdivision by the Authority or (ii) the financing by the issuance of bonds of the Authority of projects provided for any subdivision by the Maryland Environmental Service.

(b) The Authority shall have absolute discretion to determine with respect to the bonds of any issue:

(1) The date or dates of issue;

(2) The date or dates of maturity and the amount or amounts maturing on such date or dates, provided only that no bond of any issue shall mature later than 40 years from the date of its issue;

(3) The rate or rates of interest payable on such bonds and the date or dates of such payment;

(4) The form or forms, denomination or denominations, manner of execution and the place or places of payment thereof and of the interest thereon, which may be at any bank or trust company within or without this State;

(5) Whether such bonds or any part thereof shall be made redeemable before maturity and, if so, upon what terms, conditions, and prices; and

(6) Any other matter relating to the forms, terms, conditions, issuance, and sale thereof.