§ 10-125. Project financing

MD Econ Dev Code § 10-125 (2019) (N/A)
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(a)    The Corporation may:

(1)    lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and

(2)    enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.

(b)    (1)    The lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the property for consideration that the Corporation establishes, when:

(i)    the principal of and interest on the bonds that financed the cost of the project are paid; or

(ii)    provision satisfactory to the Corporation is made for their payment.

(2)    Consideration required under paragraph (1) of this subsection may be nominal.