Maryland § 10-847
Full text of Maryland Maryland Code § 10-847, with citation guidance and answers to common questions.
§ 10-847.
(a) (1) The Center may issue bonds to refund outstanding bonds of the Center, including paying:
(i) any redemption premium;
(ii) interest accrued or to accrue to the date of redemption, purchase, or maturity of the bonds; and
(iii) if considered advisable by the Center, any part of the cost of acquiring or improving a project.
(2) Refunding bonds may be issued for any corporate purpose, including:
(i) realizing savings in the effective costs of debt service, directly or through a debt restructuring; or
(ii) alleviating a potential or actual default.
(b) A refunding bond that the Center issues under this section shall be issued in the same manner and is subject to this subtitle to the same extent as any other bond.
(c) (1) The Center may issue refunding bonds in one or more series in an amount greater than the amount of the bonds to be refunded.
(2) (i) In addition to other sources of payment that the Center determines, refunding bonds may be payable from escrowed bond proceeds and earnings and profits on investments.
(ii) Escrowed bond proceeds and earnings and profits on investments used under subparagraph (i) of this paragraph constitute revenues of a project under this subtitle.
Frequently Asked Questions About Maryland § 10-847
What does Maryland Code § 10-847 cover?
Section 10-847 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 § 10-847?
A common citation format is "Maryland Code § 10-847" (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 § 10-847 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.