Md. Code, Economic Development § 10-519
This is the official text of Md. Code, Economic Development § 10-519, part of Maryland’s Code, Economic Development — governs the state's economic development programs.
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§10–519.
Official statutory text
(a) The Corporation may:
(1) lend or otherwise make available the proceeds of its bonds to a person to finance costs of a project; and
(2) enter into a financing agreement, mortgage, or other instrument that it determines is necessary or desirable to evidence or secure the loan.
(b) (1) A lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the project for consideration, that the Corporation establishes, on:
(i) payment of the principal of and interest on the bonds that financed the cost of the project; or
(ii) other provision for payment satisfactory to the Corporation.
(2) Consideration required under paragraph (1) of this subsection may be nominal.
(1) lend or otherwise make available the proceeds of its bonds to a person to finance costs of a project; and
(2) enter into a financing agreement, mortgage, or other instrument that it determines is necessary or desirable to evidence or secure the loan.
(b) (1) A lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the project for consideration, that the Corporation establishes, on:
(i) payment of the principal of and interest on the bonds that financed the cost of the project; or
(ii) other provision for payment satisfactory to the Corporation.
(2) Consideration required under paragraph (1) of this subsection may be nominal.
Status: in_force · Read it on the official government site
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