...Sale Date: Oct. 2, 2019. Series: Maryland Department of Transportation Consolidated Transportation Bonds, Series 2019. Purpose: To provide a portion of the capital funds needed for Maryland's consolidated transportation program. Security: A portion of taxes collected in the state's transportation trust fund (TTF), following certain statutory allocations (collectively, pledged tax revenues) and prior to being available for other uses by Maryland Department of Transportation (MDOT). The pledged tax revenues are defined in section 3-215 of the Transportation Article of the Annotated Code of Maryland (the act). If the pledged tax revenues become insufficient to meet debt service requirements, net operating revenues of the department are available for that purpose under section 3-215 of the act. The 'AA+' rating on MDOT's consolidated transportation and county transportation bonds reflects limited growth prospects for the various dedicated taxes and robust resilience of the structure to economic...
