§ 10-519
119 words·~1 min read·
/md/economic-development/10-519A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–519.
(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.
(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.