§ 2-13-17. Status of bonds.

With respect to any bonds issued under §§ 2-13-13, 2-13-14, or 2-13-15:

(1) Such bonds are investment securities under the laws of this state, notwithstanding any other provision of law or any recitals in the instruments;

(2) Such bonds and their issuance and sale are exempt from the provisions of the Sections 9, 10, and 11 of Article 31 of the Annotated Code of Maryland;

(3) The bonds, their transfer, the interest payable on them, and any income derived from them, including any profit realized in their sale or exchange, shall be exempt at all times from every kind and nature of taxation by this state or by any of its political subdivisions, municipal corporations, or public agencies of any kind; and

(4) For purposes of issuance and sale, such bonds may be consolidated into a single issue with any other bonds authorized to be issued by the Board.

(Code 1959, § 10A-24; 1979, Chapter 723, § 1; 1991, Chapter 194, § 1)