Section 10-348 - Payment schedule; plan. - Maryland Statutes

§ 10-348. Payment schedule; plan.
 

(a)  Public obligations - Schedule of payments.- Within 60 days after receiving the statement required by § 10-346 of this subtitle, the Authority shall prepare a schedule of payments necessary to meet the public obligations of the hospital. 

(b)  Public obligations - Proposed plan to finance or provide for payment.-  

(1) As soon as practicable after receiving a notice of closure or delicensure, required by § 10-344(a)(1)(i) or (b) of this subtitle, and after consulting with the issuer of each public obligation and the Health Services Cost Review Commission, the Authority shall prepare a proposed plan to finance or otherwise provide for the payment of public obligations. 

(2) The proposed plan may include a tender, redemption, advance refunding, or other technique that the Authority considers appropriate. 

(c)  Closure costs - Proposed plan to finance or provide for payment.- As soon as practicable after receiving notification that the Health Services Cost Review Commission has determined to provide for the payment of closure costs of a hospital under § 10-347 of this subtitle, the Authority shall prepare a proposed plan to finance or provide for the payment of closure costs stated in the notice. 

(d)  Anticipated development of plan.- On request of the Health Services Cost Review Commission, the Authority may begin preparing the plan required by this section before the Authority receives notice under § 10-344(a)(1)(i) or (b) of this subtitle. 

(e)  Submission of plan and payment schedule.- The Authority shall promptly submit the schedule of payments and the proposed plan required by this section to the Health Services Cost Review Commission. 
 

[An. Code 1957, art. 43C, § 16A(i); 2008, ch. 306, § 2.]