- (a) The Department from time to time may issue its refunding bonds for refunding any special transportation project revenue bonds.
- (b) The powers granted and limitations imposed in this subtitle as to the issuance of special transportation project revenue bonds also apply to the issuance of refunding bonds.
- (c) The State Treasurer shall segregate the proceeds of the sale of any refunding bonds in a separate trust fund to be used only to pay the purchase or redemption prices of the bonds to be refunded.
Added by Acts 2002, c. 470, § 1, eff. June 1, 2002.