Section 10-334 - Bond anticipation notes.
§ 10-334. Bond anticipation notes.
(a) Authority to issue.- The Authority may issue negotiable bond anticipation notes in anticipation of the sale of bonds for any corporate purpose.
(b) Manner of issuance.- Bond anticipation notes issued under this section shall be issued in the same manner as bonds.
(c) Contents of notes and resolution.- Bond anticipation notes issued under this section and the resolution authorizing them may contain any provisions, conditions, or limitations that may be included in a trust agreement.
(d) Payment of other notes.- The Authority may issue bond anticipation notes to pay any other bond anticipation notes.
(e) Payment.- Bond anticipation notes shall be paid from:
(1) revenues of the Authority;
(2) money available and not otherwise pledged; or
(3) the proceeds of the sale of the bonds in anticipation of which the notes were issued.
[An. Code 1957, art. 43C, § 11(a); 2008, ch. 306, § 2.]