(a) An authority may: (1) issue bonds for any of its corporate purposes; (2) issue refunding bonds to pay or retire its bonds; and (3) issue any kinds of bonds, including bonds on which the principal and interest are payable: (i) only from the income and revenues of the housing project financed with the proceeds of the bonds or with these proceeds and a grant from the State or federal government in aid of the housing project; (ii) only from the income and revenues of designated housing projects whether or not they were financed wholly or partly with the proceeds of the bonds; or (iii) from its revenues generally. (b) To secure any of its bonds, an authority may pledge any revenue or mortgage a housing project or other property of the authority.
Maryland Legal Code