Md. Code Regs. 05.01.08.06

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.01.08.06 - Approval of Bond Issuance

A. Except as set forth in §B of this regulation, the Secretary, or a designee of the Secretary, shall approve in writing the amount, time, and type of revenue bonds to be issued after receipt of the recommendation of the Board.

B. The Secretary may determine to approve the issuance of revenue bonds without receiving the recommendation of the Board or to vary the amount, type, or timing of the revenue bond issue without further review or recommendation by the Board if the Secretary determines, in the sole discretion of the Secretary, that urgent action is required. A written determination of urgent action by the Secretary is final and may not be appealed.