Section 10-519 - Project financing. - Maryland Statutes

§ 10-519. Project financing.
 

(a)  Loans.- 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. 

(b)  Leases.-  

(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. 
 

[An. Code 1957, art. 41, § 13-510(k); 2008, ch. 306, § 2.]