Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 4-311: (a) (1) Revenue bonds issued under this subtitle may be secured by a trust agreement between the Authority and a corporate trustee, which may be any trust company or bank having trust powers within or without this State
What this law says, in plain English
This statute establishes procedures for securing revenue bonds through trust agreements with banks or trust companies, allowing pledge of revenues but not mortgages of transportation facilities, and sets forth permissible provisions for bondholder protection and bond disbursement.
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