Section 10-125 - Project financing. - Maryland Statutes

§ 10-125. Project financing.
 

(a)  Loans.- 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)  Leases.-  

(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. 
 

[An. Code 1957, art. 83A, § 5-206(k); 2008, ch. 306, § 2.]