Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-202: (a) The Department from time to time may issue its bonds on behalf of this State to finance the cost of any one or more or combination of transportation facilities
What this law says, in plain English
The Department may issue bonds to finance transportation facilities up to $4.5 billion aggregate outstanding principal, preferring public competitive sales but permitting private negotiated sales under specified credit conditions.
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