Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-303: (a) Subject to the limitations of this subtitle, the Department from time to time may: (1) Borrow money and evidence the borrowing by the issuance and sale of its bonds in substantially the form and manner and subject to the same general provisions and tax exemption applicable to consolidated transp
What this law says, in plain English
The Department of Transportation may issue bonds to borrow money, disburse proceeds to counties, and pay bond principal and interest, following rules for consolidated transportation bonds.
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