§ 12-117
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/md/economic-development/12-117A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–117.
(a)This section applies to a lease or contract under which:
(1)the State or a unit of the State will be an initial user or occupant of a facility financed by bonds issued under this subtitle; or
(2)a facility financed by bonds issued under this subtitle will be built on property owned by the State.
(b)The State or a unit of the State may not enter into a lease or contract that is subject to this section and that forms a part of the security for bonds issued under this subtitle unless:
(1)the Legislative Policy Committee has authorized the facility as being consistent with the capital budget; and
(2)the Board of Public Works specifically has approved the bond issue for that facility.