Maryland § 10-333
Full text of Maryland Maryland Code § 10-333, with citation guidance and answers to common questions.
§ 10-333.
(a) Pending their use in accordance with this subtitle, proceeds of bonds issued under § 10-331 of this subtitle may be invested in:
(1) obligations of or guaranteed by the United States; or
(2) certificates of deposit or time deposits secured by obligations of or guaranteed by the United States.
(b) (1) Bond proceeds placed in escrow under subsection (a) of this section shall mature at such time or times as the Authority considers appropriate to assure the prompt payment of principal, interest, and redemption premium, if any, on the bonds that are to be refunded.
(2) The instruments in which the Authority invests proceeds of bonds issued for all or part of the cost of improvement or acquisition of a project shall mature soon enough to pay the cost of the improvement or acquisition.
(c) (1) The Authority may apply the interest, income, and profit from the investments described in subsection (a) of this section:
(i) to pay the bonds that are to be refunded; or
(ii) to pay the costs of acquiring or improving a project.
(2) After the terms of escrow are satisfied, the balance of the refunding bond proceeds, interest, income, and profit, if any, may be returned to the Authority for use by it in any lawful manner.
Frequently Asked Questions About Maryland § 10-333
What does Maryland Code § 10-333 cover?
Section 10-333 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-333?
A common citation format is "Maryland Code § 10-333" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-333 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.