§ 10-125
119 words·~1 min read·
/md/economic-development/10-125A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–125.
(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.
(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.