Section 5-570 - Economic impact of contract. - Maryland Statutes

§ 5-570. Economic impact of contract.
 

(a)  Consideration.- The Authority may only approve a guaranty or a bond under this part if the Authority determines that the contract, for which a bond is sought to be guaranteed or issued, will have a substantial economic impact. 

(b)  Determination of economic impact.- To determine the economic impact of a contract, the Authority may consider: 

(1) the amount of the guaranty obligation; 

(2) the terms of the bond to be guaranteed; 

(3) the number of new jobs that the contract to be bonded will create; and 

(4) any other factor that the Authority considers relevant. 
 

[An. Code 1957, art. 83A, § 5-1035(e); 2008, ch. 306, § 2.]