M ARYLAND T RANSPORTATION A UTHORITY R ESOLUTION 25-01
A R ESOLUTION REGARDING THE ISSUANCE BY THE M ARYLAND T RANSPORTATION A UTHORITY ( THE “MDTA”) OF ITS S PECIAL O BLIGATION R EVENUE B ONDS , S ERIES 2025 ( THE “2025 B ONDS ”) FOR THE P URPOSE OF ( I ) FINANCING AND REFINANCING THE ACQUISITION , CONSTRUCTION AND EQUIPPING OF CERTAIN T RANSPORTATION F ACILITIES P ROJECTS AND ( II ) REFUNDING CERTAIN OUTSTANDING OBLIGATIONS OF THE MDTA ISSUED FOR THE PURPOSE OF FINANCING AND REFINANCING THE ACQUISITION , CONSTRUCTION AND EQUIPPING OF CERTAIN T RANSPORTATION F ACILITIES P ROJECTS ; A PPROVING THE P REPARATION AND D ISTRIBUTION OF A P RELIMINARY AND A F INAL O FFICIAL S TATEMENT , A SUPPLEMENTAL TRUST AGREEMENT , AN ESCROW DEPOSIT AGREEMENT AND OTHER TRANSACTION DOCUMENTS ; A UTHORIZING THE SOLICITATION AND SELECTION OF PROVIDERS OF PROFESSIONAL SERVICES ; A UTHORIZING CERTAIN OFFICERS TO DETERMINE MATTERS PERTAINING TO THE SALE AND ISSUANCE OF THE 2025 B ONDS , INCLUDING THE FINANCING S TRUCTURE AND T ERMS ; AUTHORIZING , SPECIFYING , DETERMINING AND APPROVING CERTAIN OTHER MATTERS PERTAINING TO THE 2025 B ONDS . W HEREAS , the Maryland Transportation Authority, an agency of the State of Maryland (the “ MDTA ”), adopts this Resolution 25-01 (“ Resolution 25-01 ”) for the purpose of authorizing the issuance of the 2025 Bonds in an aggregate principal amount not to exceed Six Hundred Million Dollars ($600,000,000); and W HEREAS , the MDTA is authorized under Sections 4-101 through 4-405 of the Transportation Article of the Annotated Code of Maryland (2015 Replacement Volume, as supplemented) (the “ Act ”) to finance “transportation facilities projects” (as defined in the Act), to issue revenue bonds for the purpose of financing the cost of transportation facilities projects, to issue revenue bonds for the purpose of refunding any of its outstanding revenue bonds and to perform any actions necessary or convenient to carry out the powers granted in the Act; and W HEREAS , the MDTA has entered into the Second Amended and Restated Trust Agreement dated as of September 1, 2007 (as previously amended and supplemented, the “ Master Trust Agreement ”), with The Bank of New York Mellon (successor to The Bank of New York), as trustee (the “ Trustee ”); and W HEREAS , pursuant to Sections 2.01 and 2.04 of the Master Trust Agreement, the MDTA has issued its Transportation Facilities Projects Revenue Refunding Bonds, Series 2017 (Tax- Exempt Bonds) dated July 27, 2017 (the “ Series 2017 Bonds ”), Transportation Facilities Projects Revenue Bonds dated June 25, 2020 (the “ Series 2020 Bonds” ), Transportation Facilities Projects Revenue Bonds dated April 7, 2021 (the “ Series 2021A Bonds ”), Transportation Facilities Projects Revenue Refunding Bonds, Series 2022 (Tax-Exempt Bonds) dated May 5, 2022 (the “ Series 2022 Bonds ”), Governor Harry W. Nice Memorial/Senator Thomas "Mac" Middleton Bridge Replacement Project (TIFIA – 20221007A) TIFIA Bond (the “ 2022 TIFIA Bond ”), Transportation Facilities Projects Revenue Refunding Bonds, Series 2024A (Tax-Exempt Bonds) dated March 5, 2024 (the “ Series 2024A Bonds ”), and
Made with FlippingBook Digital Proposal Creator