Maryland Code, ECONOMIC DEVELOPMENT 10-117
Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 10-117
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) borrow money and issue bonds to finance any part of the cost of a project or for any other corporate purpose of the Corporation;
(2) secure the payment of any portion of the borrowing by pledge of or mortgage or deed of trust on property or revenues of the Corporation;
(3) combine projects for financing, make agreements with or for the benefit of the bondholders or with others in connection with the issuance or future issuance of bonds, as the Corporation considers advisable; and
(4) otherwise provide for the security of bonds and the rights of bondholders.
(b) In addition to the powers of the Corporation under subsection (a) of this section, for the purpose of funding the purchase or condemnation by the State for public use of the property as authorized by §§ 11-520 and 11-521 of the Business Regulation Article, the Corporation may borrow money and issue bonds to finance the cost of acquiring by purchase or completing the condemnation process by the State in accordance with applicable legal standards.