Maryland § 3-907
Full text of Maryland Maryland Code § 3-907, with citation guidance and answers to common questions.
§ 3-907.
(a) Except as provided in § 3–907.1 of this subtitle, 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.
Frequently Asked Questions About Maryland § 3-907
What does Maryland Code § 3-907 cover?
Section 3-907 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 § 3-907?
A common citation format is "Maryland Code § 3-907" (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 § 3-907 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.