§ 10-519. Project financing

MD Econ Dev Code § 10-519 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(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.