§ 1812 — Special purpose bonds and notes

§ 1812. Special purpose bonds and notes. 1. The authority shall have\nthe power and is hereby authorized to issue at one time or in series\nfrom time to time special purpose bonds in an aggregate principal amount\nwhich shall not at any one time exceed seven hundred fifty million\ndollars, excluding special purpose bonds issued to refund outstanding\nspecial purpose bonds, and special purpose notes in anticipation of the\nissuance of such special purpose bonds.\n 2. The authority shall have power from time to time to renew special\npurpose notes or to issue renewal notes for such purpose, to issue\nspecial purpose bonds to pay special purpose notes, and whenever it\ndeems refunding expedient, to refund any special purpose bond by the\nissuance of new special purpose bonds, whether the bonds to be refunded\nhave or have not matured, and may issue special purpose bonds partly to\nrefund special purpose bonds then outstanding and partly for the\npurposes specified in this subtitle. The bonds issued for refunding\npurposes shall be sold and the proceeds applied to the purchase,\nredemption or payment of the bonds to be refunded.\n