Maryland Statutes

§ 10-519

Maryland·Article gec Economic Development·Title 10
(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.

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