Except as necessary to pay debt service or implement the public purposes or programs of the incorporating county or municipal corporation, the net earnings of an authority may benefit only the incorporating county or municipal corporation and may not benefit any person.
Md. Code Ann., Econ. Dev. § 12-108
Known as the Maryland Economic Development Revenue Bond Act
The act spans §§ 12–12 (18 sections).
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.