Maryland § 4-306
Full text of Maryland Maryland Code § 4-306, with citation guidance and answers to common questions.
§ 4-306.
(a) Except as provided in subsection (b) of this section, revenue bonds may be issued by the Authority:
(1) Without obtaining the consent of any instrumentality, agency, or unit of this State; and
(2) Without any proceedings or the happening of any conditions or things other than those specifically required by this subtitle.
(b) (1) (i) Subject to subparagraph (ii) of this paragraph, revenue bonds secured by toll revenue may be issued in any amount as long as the aggregate outstanding and unpaid principal balance of the revenue bonds secured by toll revenue and revenue bonds of prior issues does not exceed $4,000,000,000 on June 30 of any year.
(ii) The maximum aggregate amount of revenue bonds that may be outstanding and unpaid under subparagraph (i) of this paragraph shall be reduced by the amount of:
1. Any loan extended to the State under the federal Transportation Infrastructure Finance and Innovation Act; and
2. Any line of credit extended to the State under the federal Transportation Infrastructure Finance and Innovation Act, to the extent the State draws on the line of credit.
(2) Except as otherwise provided in this section and § 4–205 of this title, without the approval of the General Assembly, the Authority may issue bonds to refinance all or any part of the cost of a transportation facility project for which the Authority previously issued bonds authorized under this subtitle.
Frequently Asked Questions About Maryland § 4-306
What does Maryland Code § 4-306 cover?
Section 4-306 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 § 4-306?
A common citation format is "Maryland Code § 4-306" (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 § 4-306 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.