Maryland § 12-701

§ 12-701.

    (a)    An authority may:

        (1)    issue bonds for any of its corporate purposes;

        (2)    issue refunding bonds to pay or retire its bonds; and

        (3)    issue any kinds of bonds, including bonds on which the principal and interest are payable:

            (i)    only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project;

            (ii)    only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or

            (iii)    from its revenues generally.

    (b)    To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.