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Section 7-306 - Governmental Participation in Financing — Maryland Law | CourtGPT
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  7. Section 7-306 - Governmental Participation in Financing
Maryland Legal Code

Section 7-306 - Governmental Participation in Financing

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(a) Subject to constitutional limitations, this State and its political subdivisions may: (1) Make grants to the Administration; (2) Guarantee any obligations of the Administration; (3) Make contributions to meet any operating expenses of the Administration; and (4) Contract with the Administration, any lender, or any trustee under an indenture or loan agreement made by the Administration. (b) Unless otherwise authorized by law, the Administration: (1) Does not have any power to impose any commitment or obligation on this State or any of its political subdivisions; and (2) May not levy any tax.