Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-601: (a) In order to utilize to the greatest extent possible the benefits of available financial resources relating to transportation purposes, including federal grants, loans, transportation facility revenue sources, and other programs, the Department from time to time may issue its bonds and otherwise
What this law says, in plain English
The Department may issue bonds and borrow funds from federal or non-federal sources to finance transportation facilities, using federal grants and transportation revenues for repayment. Debt secured by federal aid cannot exceed $1 billion.
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