§ 10-519

Maryland § 10-519

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

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.