reglab/housing_qa huggingface dataset:
MD. Economic Development Code Ann. §  10-106 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-106 - Board of Directors

    (a)    A Board of Directors shall manage the Corporation and exercise its powers.    (b)    The Board consists of the following 12 members:        (1)    as ex officio voting members:            (i)    the Secretary; and            (ii)    the Secretary of Transportation; and        (2)    the following members, appointed by the Governor with the advice and consent of the Senate:            (i)    two representatives of local government;            (ii)    three members who are knowledgeable in real estate or commercial financing;            (iii)    three members who are knowledgeable in industrial development or industrial relations; and            (iv)    two members of the general public.    (c)    Each member of the Board shall be a resident of the State.    (d)    In appointing Board members, the Governor shall consider geographic diversity and minority representation.    (e)    (1)    The term of an appointed member is 4 years.        (2)    The terms of the appointed members are staggered as required by the terms provided for members of the Board on October 1, 2008.        (3)    At the end of a term, a member continues to serve until a successor is appointed and qualifies.        (4)    A member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies.    (f)    Before taking office, each member appointed to the Board shall take the oath required by Article 1, § 9 of the Maryland Constitution.
MD. Economic Development Code Ann. §  10-107 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-107 - Officers

    (a)    From among its members, the Board shall elect a chair, a vice chair, and a treasurer.    (b)    The Board shall determine the manner of election of officers and their terms of office.
MD. Economic Development Code Ann. §  10-108 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-108 - Quorum; Meetings

    (a)    (1)    Seven members of the Board are a quorum.        (2)    An affirmative vote of at least seven members is needed for the Board to act.    (b)    The Board shall determine the times and places of its meetings.
MD. Economic Development Code Ann. §  10-109 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-109 - Executive Director

    (a)    (1)    Subject to the approval of the Governor, the Board shall appoint an Executive Director.        (2)    The Executive Director serves at the pleasure of the Board.        (3)    The Board shall determine the salary of the Executive Director.    (b)    (1)    The Executive Director is the chief administrative officer of the Corporation.        (2)    The Executive Director shall manage the administrative affairs and technical activities of the Corporation in accordance with policies and procedures that the Board establishes.    (c)    The Executive Director, or the Executive Director’s designee, shall:        (1)    attend all meetings of the Board;        (2)    act as secretary of the Board;        (3)    keep minutes of all proceedings of the Board;        (4)    approve all salaries, per diem payments, and allowable expenses of the Corporation, its employees, and its consultants;        (5)    approve any expenses incidental to the operation of the Corporation; and        (6)    perform the other duties that the Board directs in carrying out this subtitle.
MD. Economic Development Code Ann. §  10-110 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-110 - Staff; Consultants

    (a)    The Board shall employ any additional professional and clerical staff as necessary to carry out this subtitle.    (b)    The Board may retain accountants, engineers, lawyers, financial advisors, or other consultants as necessary.
MD. Economic Development Code Ann. §  10-112 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-112 - Findings of Board

    A finding by the Board concerning the public purpose of an action, the legislative intent expressed under this subtitle, or the appropriateness of the action in serving the public purpose and satisfying the legislative intent is conclusive in a proceeding that involves the validity or enforceability of:         (1)    an agreement entered into by the Corporation under this subtitle;        (2)    a bond; or        (3)    any security relating to a bond.
MD. Economic Development Code Ann. §  10-113 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-113 - Accounting; Fiscal Year

    (a)    The Corporation shall establish a system of financial accounting, controls, audits, and reports.    (b)    The fiscal year of the Corporation begins on July 1 and ends on the following June 30.
MD. Economic Development Code Ann. §  10-114 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-114 - Money of Corporation

    (a)    The Corporation may create and administer the accounts that it requires.    (b)    The Corporation shall deposit its money into a State or national bank or a federally insured savings and loan association that has a total paid-in capital of at least $1,000,000.    (c)    The Corporation may designate the trust department of a State bank, national bank, or savings and loan association as a depository to receive securities that the Corporation owns or acquires.    (d)    Unless an agreement or covenant between the Corporation and the holders of its obligations limits classes of investments, the Corporation may invest its money in bonds or other obligations of, or guaranteed as to principal and interest by, the United States, the State, or a governmental unit.
MD. Economic Development Code Ann. §  10-115 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-115 - Powers -- in General

    The Corporation may:        (1)    adopt bylaws for the conduct of its business;        (2)    adopt a seal;        (3)    maintain offices at a place it designates in the State;        (4)    accept loans, grants, or assistance of any kind from the federal government, a governmental unit, a college or university, or a private source;        (5)    enter into contracts and other legal instruments;        (6)    sue and be sued in its own name;        (7)    acquire, purchase, hold, lease as lessee, and use any franchise, patent, or license and real, personal, mixed, tangible, or intangible property, or any interest in property, necessary or convenient to carry out its purposes;        (8)    sell, lease as lessor, transfer, and dispose of its property or interest in property;        (9)    fix and collect rates, rentals, fees, royalties, and charges for services, resources, and facilities it provides or makes available;        (10)    with the owner’s permission, enter lands, waters, or premises to make a survey, sounding, boring, or examination to accomplish a purpose authorized by this subtitle;        (11)    further define or limit the term “revenues” defined in § 10–101 of this subtitle as the term applies to a particular project, financing, or other matter;        (12)    create, own, control, or be a member of a corporation, limited liability company, partnership, or other person, whether for–profit or nonprofit;        (13)    exercise a power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and        (14)    do all things necessary or convenient to carry out the powers expressly granted by this subtitle.
MD. Economic Development Code Ann. §  10-116 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-116 - Powers -- Projects

    (a)    The Corporation may:        (1)    acquire, improve, develop, manage, market, maintain, lease as lessor or as lessee, and operate a project in the State;        (2)    acquire, directly or through a person or governmental unit, by purchase, gift, or devise, property, franchises, and other interests in land, including land lying under water and riparian rights, located in or outside the State as necessary or convenient to improve or operate a project, on terms and at prices that the Corporation considers reasonable;        (3)    if approved by resolution by at least a two-thirds majority of the legislative body of each governmental unit in which the property is located, acquire real property or rights or easements in real property for a project by condemnation for public use in accordance with applicable law; and        (4)    make loans to a person to:            (i)    finance all or a part of the acquisition or improvement of a project; and            (ii)    refund outstanding bonds, mortgages, advances, loans, or other obligations of the person to finance all or part of the acquisition or improvement of a project.    (b)    The power of condemnation of the Corporation under subsection (a)(3) of this section may not exceed the power of condemnation of the governmental unit in which the property is located.
MD. Economic Development Code Ann. §  10-117 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-117 - Powers -- Debt

    (a)    The Corporation may:        (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.
MD. Economic Development Code Ann. §  10-118 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-118 - Bonds -- in General

    (a)    The Corporation may authorize the issuance of revenue bonds by resolution.    (b)    The Corporation may issue the bonds at one time or in one or more series from time to time.    (c)    The Corporation shall determine:        (1)    the date of the bonds;        (2)    the maturity dates of the bonds, which may not exceed 40 years from the date of issue;        (3)    the interest rates on the bonds;        (4)    the medium of payment of the principal of and interest on the bonds;        (5)    the form of the bonds;        (6)    the manner of executing the bonds;        (7)    the denominations of the bonds; and        (8)    the place at which the principal of and interest on the bonds will be payable, including at a bank or trust company in or outside the State.    (d)    An officer’s signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.    (e)    (1)    Between successive holders, bonds are negotiable instruments under Title 3 of the Maryland Uniform Commercial Code.        (2)    Bonds may be registrable.    (f)    (1)    The Corporation shall sell the bonds by competitive or negotiated sale in a manner and for a price the Corporation determines to be in its best interests.        (2)    Bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.    (g)    Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
MD. Economic Development Code Ann. §  10-119 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-119 - Bonds -- Legal Investments

    Bonds are securities:         (1)    in which any of the following persons may legally and properly invest money, including capital that the person owns or controls:            (i)    an officer of a governmental unit;            (ii)    a bank, trust company, savings and loan association, investment company, or other person operating a banking business;            (iii)    an insurance association or other person operating an insurance business;            (iv)    a personal representative, guardian, trustee, or other fiduciary; and            (v)    any other person; and        (2)    that may be deposited with and received by a governmental unit or any officer of the State or a governmental unit for any purpose for which the deposit of bonds or other obligations of the State is authorized by law.
MD. Economic Development Code Ann. §  10-120 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-120 - Bonds -- Liability; Full Faith and Credit

    (a)    (1)    This section does not prevent the Corporation from pledging its full faith and credit to the payment of a bond.        (2)    This section does not limit the ability of the State or a governmental unit to impose and collect an assessment, rate, fee, or charge to pay to the Corporation any cost, including the principal of and interest on a bond, under an agreement between the Corporation and the State or governmental unit.    (b)    (1)    A bond:            (i)    is not a debt, liability, or a pledge of the full faith and credit of the State or a governmental unit; and            (ii)    is payable solely from revenues provided under this subtitle.        (2)    The issuance of a bond is not directly, indirectly, or contingently a moral or other obligation of the State or a governmental unit to levy or pledge any tax or to make an appropriation to pay the bond.        (3)    Each bond shall state on its face that:            (i)    neither the State nor any governmental unit is obliged to pay the principal of or interest on the bond, except from revenues pledged to payment of the bond; and            (ii)    neither the full faith and credit nor the taxing power of the State or a governmental unit is pledged to the payment of the principal of or interest on the bond.
MD. Economic Development Code Ann. §  10-121 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-121 - Bonds -- Trust Agreement

    (a)    (1)    The Corporation may secure a bond by a trust agreement between the Corporation and a corporate trustee.        (2)    A corporate trustee may be any trust company or bank that has the powers of a trust company in or outside the State.        (3)    A corporation or trust company incorporated in the State may:            (i)    act as depository of bond proceeds or revenues; and            (ii)    furnish an indemnity bond or pledge security that the Corporation requires.    (b)    The trust agreement or the resolution that provides for the issuance of a bond may:        (1)    state the rights and remedies of bondholders and any trustee;        (2)    contain provisions to protect and enforce the rights and remedies of bondholders;        (3)    contain covenants stating the duties of the Corporation as to the custody, safeguarding, and application of money;        (4)    restrict the individual rights of action of bondholders;        (5)    provide for the payment of the bond proceeds and revenues to an officer, board, or depository that the Corporation determines with the safeguards and restrictions that the Corporation determines; and        (6)    provide for the method of disbursement of the bond proceeds and revenues, with the safeguards and restrictions that the Corporation determines.    (c)    Expenses incurred in carrying out a trust agreement may be treated as part of the cost of operation of the Corporation.
MD. Economic Development Code Ann. §  10-122 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-122 - Bonds -- Investment of Proceeds

    (a)    The portion of the proceeds of bonds issued to pay costs of a project may be invested in investments or other obligations that mature no later than the times when the proceeds will be needed.    (b)    (1)    Except as provided in paragraph (2) of this subsection, the Corporation shall determine the investment of bond proceeds.        (2)    If the Corporation loans the proceeds of the bonds to a person as provided in § 10-125 of this subtitle, the loan recipient shall determine the investment of bond proceeds.    (c)    The Corporation or the loan recipient may apply earnings and profits on investments or other obligations:        (1)    to the payment of any cost; or        (2)    in any other lawful manner.
MD. Economic Development Code Ann. §  10-123 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-123 - Bonds -- Refunding Bonds

    (a)    (1)    The Corporation may issue bonds to refund outstanding bonds, including paying:            (i)    any redemption premium;            (ii)    interest accrued or to accrue to the date of redemption, purchase, or maturity of the bonds; and            (iii)    if considered advisable by the Corporation, any part of the cost of a project.        (2)    Refunding bonds may be issued for any corporate purpose, including:            (i)    realizing savings in the effective costs of debt service, directly or through a debt restructuring;            (ii)    alleviating an impending or actual default; or            (iii)    relieving the Corporation of a contractual agreement that the Corporation finds to be unreasonably onerous, impracticable, or impossible to perform.    (b)    (1)    The Corporation may issue refunding bonds in one or more series in an amount greater than the amount of the bonds to be refunded.        (2)    (i)    In addition to other sources of payment that the Corporation determines, refunding bonds may be payable from escrowed bond proceeds and earnings and profits on investments.            (ii)    Escrowed bond proceeds and earnings and profits on investments used under subparagraph (i) of this paragraph constitute revenues of a project under this subtitle.    (c)    In the discretion of the Corporation, the proceeds of refunding bonds may be:        (1)    applied to the purchase, retirement at maturity, or redemption of outstanding bonds on a date the Corporation determines; and        (2)    pending application under item (1) of this subsection, placed in escrow.    (d)    (1)    The Corporation may invest escrowed refunding bond proceeds in investments and other obligations, maturing on appropriate dates to assure the prompt payment of the principal of, interest on, and any redemption premium on the bonds to be refunded.        (2)    (i)    Except as provided in subparagraph (ii) of this paragraph, the Corporation shall determine the investment of the proceeds of refunding bonds.            (ii)    If the Corporation loans the proceeds of refunding bonds to a person as provided in § 10-125 of this subtitle, the loan recipient shall determine the investment of the proceeds of refunding bonds.        (3)    The earnings and profits on investments or other obligations may be applied to the payment of the bonds to be refunded.        (4)    After the terms of the escrow have been fully satisfied, the balance of the proceeds and earnings and profits on investments or other obligations may be returned to the Corporation or the loan recipient for use in any lawful manner.
MD. Economic Development Code Ann. §  10-124 (2021)
2021 Maryland Statutes|Economic Development|Division II - Independent and Regional Development Units and Resources|Title 10 - Statewide Development Resources and Revenue Authorities|Subtitle 1 - Maryland Economic Development Corporation|Section 10-124 - Bonds -- Enforcement of Rights and Duties

    Except to the extent rights granted by this subtitle are restricted by resolution passed before the issuance of the bonds or by the trust agreement, a holder of a bond issued under this subtitle or a trustee under a trust agreement may sue to:         (1)    protect and enforce rights under the laws of the State, the resolution, or the trust agreement; and        (2)    enforce and compel performance of duties by the Corporation or its officers that this subtitle, the resolution, or the trust agreement requires.