§ 10-329

Maryland § 10-329

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

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.