§ 10-349

Maryland § 10-349

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

(a) The Authority may issue bonds to finance or otherwise provide for the payment of public obligations or closure costs of a hospital in accordance with a plan developed under § 10-348 of this subtitle.

(b) The bonds issued under subsection (a) of this section shall:

(1) be payable from the fees provided under § 10-350 of this subtitle or from other sources provided in the plan;

(2) be authorized, sold, executed, and delivered in accordance with this subtitle; and

(3) have terms consistent with constitutional and other legal requirements.

(c) In connection with the issuance of any bond, the Authority may assign its rights under a loan, lease, or other financing agreement between the Authority or any other issuer of a public obligation and the closed or delicensed hospital to the State or a State unit in consideration for the payment of a public obligation as provided in this part.