Md. Code, Econ. Dev. § 10-329

Current with changes from the 2024 Legislative Session

Section 10-329 - Sinking fund - Nature and application

A sinking fund:

(1) may be held:

(i) for all of the bonds issued to finance projects at a particular participating institution without distinction or priority of one bond over another bond;

(ii) for a particular project and for the bonds issued for that project; and

(iii) for bonds having a lien subordinate to the lien securing other bonds; and

(2) shall be subject to the trust agreement.

Md. Code, EC § 10-329

Amended by 2020 Md. Laws, Ch. 628,Sec. 1, eff. 5/8/2020.