Md. Code, Housing and Community Development § 12-312
This is the official text of Md. Code, Housing and Community Development § 12-312, part of Maryland’s Code, Housing and Community Development — governs housing programs and community development.
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§12–312.
Official statutory text
(a) (1) When a code authority becomes authorized to do business and exercise its powers, the political subdivision:
(i) immediately shall estimate the amount of money necessary for the administrative expenses and overhead of the code authority during the first year thereafter; and
(ii) shall appropriate that amount to the code authority out of money in the political subdivision’s treasury not appropriated to some other purpose.
(2) The political subdivision shall pay the money appropriated to the code authority as a donation.
(b) (1) Subject to paragraph (2) of this subsection, the political subdivision shall appropriate to the code authority money needed to comply with any requirement imposed on it by its articles of organization, if enough money for the code authority to comply is not available from State, federal, or other sources.
(2) A political subdivision is not required to provide any money for a code authority to satisfy a judgment, liability, debt, or other financial obligation to a third party.
(c) (1) A political subdivision located wholly or partly in the area of operation of a code authority may lend, donate, or agree to lend or donate money to the code authority.
(2) The code authority, when it has the money available, shall reimburse the political subdivision for all loans made to it by the political subdivision.
(i) immediately shall estimate the amount of money necessary for the administrative expenses and overhead of the code authority during the first year thereafter; and
(ii) shall appropriate that amount to the code authority out of money in the political subdivision’s treasury not appropriated to some other purpose.
(2) The political subdivision shall pay the money appropriated to the code authority as a donation.
(b) (1) Subject to paragraph (2) of this subsection, the political subdivision shall appropriate to the code authority money needed to comply with any requirement imposed on it by its articles of organization, if enough money for the code authority to comply is not available from State, federal, or other sources.
(2) A political subdivision is not required to provide any money for a code authority to satisfy a judgment, liability, debt, or other financial obligation to a third party.
(c) (1) A political subdivision located wholly or partly in the area of operation of a code authority may lend, donate, or agree to lend or donate money to the code authority.
(2) The code authority, when it has the money available, shall reimburse the political subdivision for all loans made to it by the political subdivision.
Status: in_force · Read it on the official government site
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