Maryland Code, Economic Development § 10-349

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-349 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-349/

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