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Section 10-125 - Project Financing — Maryland Law | CourtGPT
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  4. Economic Development - Division I - Secretary of Commerce and Department of Commerce/
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  7. Subtitle 1 - Maryland Economic Development Corporation/
  8. Section 10-125 - Project Financing
Maryland Legal Code

Section 10-125 - Project Financing

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(a) 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) (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.