Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-605: (a) Before the preparation of definitive bonds, the Department may issue its interim certificates or temporary bonds, with or without coupons, exchangeable for definitive bonds when the definitive bonds have been executed and are available for delivery
What this law says, in plain English
The Department may issue temporary certificates, bonds, or anticipation notes before final bonds are ready, exchangeable or payable from future bond sales proceeds when definitive bonds become available.
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