Md. Code, Local Government § 1–1430
Where this section sits in the code
- Article - Local Government
(a) An authority shall convey title to property relating to a project and
release collateral in accordance with this section when:
(1) (i) the principal of and interest on bonds issued to finance or
refinance the project, including any refunding bonds, have been fully paid and retired;
or
(ii) adequate provision has been made to fully pay and retire
the bonds;
(2) all other conditions of the trust agreement have been satisfied;
and
(3) the lien of the trust agreement has been released.
(b) On satisfaction of the conditions under subsection (a) of this section, an
authority promptly shall execute any deed, conveyance, release, or document and
take any other action necessary to convey title to the property and release collateral
free of any lien or encumbrance created through the authority.
Collected 2026-09-14T19:59:58Z. Source file · JSON