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Md. Code Ann., Econ. Dev. § 11-320

Known as the Maryland Local Military Installation Redevelopment Authority Act

The act spans §§ 11-301 to 11-325 (25 sections).

(a) The authority may:

(1) lend or otherwise make available its net revenue 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) A lease of property of the authority may require or authorize the lessee or another person, on conveyance of the property to the authority, to purchase or otherwise acquire the property for consideration that the authority establishes.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.