Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 4-307: (a) Subject to the provisions of §§ 4-306(b), 4-320, and 4-321 of this subtitle, if by reason of increased construction costs, error in estimates, or otherwise, the proceeds of the revenue bonds of any issue are less than the amount required for the purpose for which the bonds are authorized, additi
What this law says, in plain English
This statute permits issuance of additional revenue bonds when initial bond proceeds fall short due to construction cost increases or estimation errors, with the additional bonds treated as part of the original issue and sharing the same repayment fund.
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