Bond anticipation notes

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    (a)    The Authority may issue bond anticipation notes secured by a pledge of a line of credit extended to the State under the federal Transportation Infrastructure Finance and Innovation Act.

    (b)    Notes issued under this section shall have a maturity date of up to 3 years after the date of issue.

    (c)    A pledge of a line of credit as authorized under this section does not constitute the pledge of future federal revenues, and notes issued under this section are not subject to § 3–601(d) of this article or § 4–320 of this subtitle.


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