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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 10-519 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-10-519/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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