reglab/housing_qa huggingface dataset:
MD. Housing and Community Development Code Ann. §  4-233 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-233 - Pledges Securing Local Obligations

    (a)    Each issuance of a local obligation under § 4-230 of this subtitle shall be secured by, at the discretion of the Administration, a pledge of the faith and credit of the issuer or a pledge of specific revenue of the issuer or the facility being financed as designated and described in the authorizing ordinance or resolution.    (b)    If a local obligation is secured by a pledge of the faith and credit of the issuer to make prompt payment from the tax and other revenues described in the enabling resolution or ordinance:        (1)    the pledge is a covenant to levy taxes sufficient to pay the principal of and interest on the local obligation when due:            (i)    on all real and tangible personal property that is within the issuer’s corporate limits and subject to assessment for unlimited ad valorem taxation; and            (ii)    in each year in which the local obligation is outstanding;        (2)    if at the time of issuance of a local obligation there is a charter or statutory limit on the power of the issuer to levy property taxes, the pledge is a covenant to levy ad valorem taxes, within that limit, sufficient to pay the principal of and interest on the local obligation:            (i)    on all real and tangible personal property that is within the issuer’s corporate limits and subject to assessment for ad valorem taxation; and            (ii)    in each year in which the local obligation is outstanding;        (3)    a local obligation may not be issued if the issuance would cause the issuer to exceed any limit set by the charter of the issuer or by statute on the power of the issuer to incur indebtedness; and        (4)    notwithstanding item (3) of this subsection:            (i)    a limit on the power to incur indebtedness imposed after the issuance of a local obligation does not affect that obligation; and            (ii)    outstanding local obligations of an issuer are not affected by the issuance of a new local obligation if the new obligation is consistent with an increase in or the elimination of a limit on the power to incur indebtedness.    (c)    (1)    An issuer of a local obligation under § 4-230 of this subtitle may secure payment by the pledge of specific revenues of the issuer.        (2)    If a local obligation issued under § 4-230 of this subtitle is secured by the pledge of specific revenue, the specific revenue may include:            (i)    payments to the issuer from the State or federal government;            (ii)    special benefit assessments, taxes, fees, or service charges that the issuer has authority to impose, levy, or charge; or            (iii)    revenue expected to be generated by the facility to be financed.
MD. Housing and Community Development Code Ann. §  4-234 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-234 - Guarantee of Loans

    (a)    In this section, “government–sponsored enterprise” means the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Home Loan Bank, or other agency or instrumentality of or chartered by the federal government that has similar powers.    (b)    (1)    To finance community development projects, public purpose projects, or residential mortgage loans, the Administration may purchase or issue securities that are backed by mortgage loans and guaranteed by the Government National Mortgage Association or a government–sponsored enterprise.        (2)    To finance business projects, the Administration may purchase or issue securities that are backed by loans or other obligations.    (c)    (1)    Notwithstanding inconsistent provisions of this subtitle relating to bonds or notes that the Administration purchases or issues, the issuance, terms, and conditions of a security that the Administration issues under this section may be as the Administration finds necessary or desirable for guaranty by:            (i)    the Government National Mortgage Association or a government–sponsored enterprise, for projects or loans described under subsection (b)(1) of this section; or            (ii)    the Maryland Housing Fund, a private entity, or a government–sponsored enterprise, for projects described under subsection (b)(2) of this section.        (2)    Except as provided by paragraph (1) of this subsection, the provisions of this subtitle that relate to bonds or notes issued by the Administration apply to securities purchased or issued under this section.
MD. Housing and Community Development Code Ann. §  4-236 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-236 - Mortgage Lenders

    In carrying out this section and §§ 4-237 through 4-241 of this subtitle, the Administration may not make a loan to a mortgage lender or purchase a mortgage loan from a mortgage lender unless the mortgage lender is:         (1)    a bank, trust company, savings institution, savings and loan association, national bank association, mortgage banker, or other financial institution that:            (i)    has an office in the State; and            (ii)    makes or originates residential mortgage loans;        (2)    an insurance company authorized to do business in the State; or        (3)    the Maryland Home Financing Program.
MD. Housing and Community Development Code Ann. §  4-238 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-238 - Commitment to Purchase Mortgage Loans

    (a)    (1)    New mortgage loans that the Administration purchases shall be loans to:            (i)    families of limited income;            (ii)    sponsors of community development projects; or            (iii)    homeowners:                1.    with primary residences located in sustainable communities;                2.    who refinance a residential mortgage loan made by the Department or Administration; or                3.    who use the loan proceeds to:                A.    purchase the homeowner’s primary residence and make payments on the homeowner’s student loan debt; or                B.    purchase the homeowner’s primary residence in conjunction with the homeowner obtaining separate financial assistance from the Administration for making payments on the homeowner’s student loan debt.        (2)    A commitment that the Administration makes to purchase new mortgage loans shall specify:            (i)    the interest rate on loans eligible for purchase, which may not exceed the prevailing interest rate on comparable mortgage loans available in the State, independent of public assistance or purchase; and            (ii)    the numbers or volumes of loans under the commitment to be made in specific geographic areas.        (3)    For any residential mortgage loans to be used to acquire homes for families of limited income, the commitment shall be limited to loans of a specified amount per dwelling unit, based on the current average sale price of new homes in the area, as determined by the Administration.    (b)    A commitment that the Administration makes to purchase existing mortgages shall require that the proceeds of the purchase be:        (1)    reinvested, within specified time limits, in new mortgage loans to:            (i)    families of limited income; or            (ii)    sponsors of community development projects; or        (2)    invested in short-term obligations pending the purchase or making of the mortgages.
MD. Housing and Community Development Code Ann. §  4-240 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-240 - Certificate of Mortgage Lender

    (a)    Except as provided in subsection (c) of this section, a mortgage lender shall make a certificate under this section for every residential mortgage loan that the lender makes under a purchase commitment by the Administration with:        (1)    the proceeds of purchase of a mortgage loan by the Administration; or        (2)    the proceeds of a loan from the Administration.    (b)    The certificate shall state that in the mortgage lender’s opinion, based on information given by the mortgagor and on the lender’s knowledge of the prevailing terms and standards of mortgage lending in the area, the mortgagor could not get a mortgage loan on the property in the unassisted private lending market.    (c)    The Secretary may waive the requirement for the mortgage lender’s certificate for a residential mortgage loan to a homeowner:        (1)    if the homeowner’s primary residence is located in a sustainable community, for the purchase or rehabilitation of the homeowner’s primary residence;        (2)    for the refinancing of a residential mortgage loan of the homeowner if the loan was made by the Department or Administration; or        (3)    for either of the purposes specified in § 4–237(a)(1)(v) of this subtitle.
MD. Housing and Community Development Code Ann. §  4-241 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-241 - Assignment and Assumption of Residential Mortgage Loans

    Except as required to qualify for insurance or guaranty by the federal government, a residential mortgage loan may not be assigned to or assumed by a person not qualified under the appropriate Administration program if the residential mortgage loan is:         (1)    a new loan that the Administration purchases or in which the Administration purchases an interest;        (2)    a loan made with the proceeds of purchase by the Administration of a residential mortgage; or        (3)    a loan made with the proceeds of a loan from the Administration to a mortgage lender.
MD. Housing and Community Development Code Ann. §  4-242 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part IV - Financing|Section 4-242 - Priority to Selling Residential Property Owned by Administration

    In providing financial assistance to a homeowner that includes the purchase of the homeowner’s primary residence and payments on the homeowner’s student loan debt, the Administration shall give priority to selling residential property that is owned by the Administration.
MD. Housing and Community Development Code Ann. §  4-244 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-244 - Powers of Administration

    (a)    The Administration may provide financial assistance, meet any development cost, or carry out any other of its purposes by spending:        (1)    money appropriated by the General Assembly;        (2)    the proceeds of a State loan to the extent provided by the General Assembly or a governmental unit authorized to issue bonds;        (3)    the proceeds of the bonds, notes, or other evidences of indebtedness that the Administration issues, payable solely from revenues of the Administration as provided in this part; or        (4)    any other money available to the Administration for community development under this subtitle:            (i)    from its own operations;            (ii)    from investment of the proceeds of its bonds, notes, or other indebtedness; or            (iii)    from any other public or private source.    (b)    (1)    Except as otherwise provided in a determination made under this section, the Administration shall deposit with the State Treasurer any money that it does not need to meet current expenses and obligations.        (2)    The State Treasurer shall:            (i)    credit the money to the Administration;            (ii)    invest the money as provided by statute; and            (iii)    credit earnings from the money to the Administration.
MD. Housing and Community Development Code Ann. §  4-246 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-246 - Renewal and Refunding

    (a)    By written determination, the Administration may provide for the issuance of notes to renew its notes, and bonds to pay its notes or to fund or refund its bonds, whether or not the bonds to be refunded have matured, including the payment of any redemption premium and any interest accrued or to accrue on the notes or bonds to be renewed, paid, or refunded.    (b)    The issuance and incidents of renewal notes and refunding bonds are governed by applicable provisions of this part.
MD. Housing and Community Development Code Ann. §  4-247 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-247 - Trust Agreement

    (a)    (1)    Bonds or notes that the Administration issues may be secured by a trust agreement between the Administration and a trustee that is in or out of the State.        (2)    A trustee shall be a trust company or a bank with trust powers.    (b)    A trust agreement or a determination authorizing the issuance of bonds or notes may contain:        (1)    subject to then–existing agreements with bondholders or noteholders, provisions to secure payment of bonds or notes by pledging or assigning:            (i)    any of the revenues of the Administration;            (ii)    a mortgage that the Administration holds, a loan that the Administration has made, or security for the mortgage or loan;            (iii)    the proceeds of a bond or note of the Administration; or            (iv)    any combination of these and other assets of the Administration;        (2)    provisions to protect and enforce rights and remedies of bondholders or noteholders, and covenants stating the duties of or restrictions on the Administration;        (3)    provisions restricting the rights of bondholders or noteholders;        (4)    provisions that appoint one or more trust companies or banks with trust powers to act as depositaries of the proceeds of bonds or notes or of any revenues or money of the Administration, with any indemnifying bonds or securities required by the Administration allowed to be given or pledged by any depositary bank or trust company incorporated in the State;        (5)    provisions on the custody, safeguarding, and application of money of the Administration;        (6)    provisions on investments of money of the Administration as the Administration provides, notwithstanding §§ 17–101 and 17–102 of the Local Government Article and §§ 6–202, 6–205, 6–206, 6–209, and 6–210 of the State Finance and Procurement Article;        (7)    provisions that establish and control all aspects of reserves, including debt service reserves;        (8)    provisions for funding or refunding bonds or notes, including redemption premiums and interest; and        (9)    any other provisions that are reasonable and proper for the security of bondholders or noteholders.
MD. Housing and Community Development Code Ann. §  4-248 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-248 - Repayment; Lien

    (a)    (1)    The interest rate or rates on and the terms of any loans and the revenues from the terms of any other assets that are financed from the proceeds of bonds or notes of the Administration, any fees that the Administration charges, and any other available revenues shall be at least sufficient to ensure repayment in full of the principal of and interest on the bonds or notes as and when due.        (2)    Any pledge that the Administration makes is valid and binding from the time the pledge is made.    (b)    The lien of the pledge:        (1)    immediately attaches, without any physical delivery or further act, to revenues or property so pledged and later received by the Administration; and        (2)    is valid and binding against each person having a claim against the Administration whether or not:            (i)    the person has notice of the lien of the pledge; or            (ii)    the determination or any other instrument has been recorded or filed.
MD. Housing and Community Development Code Ann. §  4-249 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-249 - Repurchase; Redemption

    (a)    Subject to agreements with noteholders or bondholders, the Administration may purchase its notes or bonds with any money available for the purchase.    (b)    The purchase price may not exceed:        (1)    the redemption price at the time of the purchase, plus accrued interest to the next interest payment date, if the note or bond is redeemable, at the time of the purchase; or        (2)    the redemption price on the first date after the purchase on which the note or bond becomes redeemable, plus accrued interest to that date, if the note or bond is not redeemable at the time of the purchase.    (c)    When the Administration purchases its note or bond, the note or bond shall be canceled.
MD. Housing and Community Development Code Ann. §  4-250 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-250 - Bond or Note of Administration -- Legal Status

    (a)    A bond or note issued by the Administration under this part is a legal and proper investment for:        (1)    a public officer, a political subdivision, or a governmental unit;        (2)    a bank, trust company, savings and loan association, investment company, or other person doing a banking business;        (3)    an insurance company, insurance association, or other person doing an insurance business;        (4)    a personal representative, guardian, trustee, or other fiduciary; or        (5)    any other person.    (b)    For any purpose for which the deposit of a bond or other obligation of the State is authorized by law, a bond issued by the Administration under this part is a security that may legally and properly be deposited with and received by a public officer, a political subdivision, or a governmental unit.
MD. Housing and Community Development Code Ann. §  4-251 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-251 - Bonds and Notes Not State Debts

    (a)    A bond or note issued under this part:        (1)    is not a debt of and does not pledge the faith, credit, or taxing power of the State, the Administration, or a political subdivision; but        (2)    is payable only from the revenues and property provided for in this subtitle.    (b)    Each bond or note shall state on its face the provisions of subsection (a) of this section.
MD. Housing and Community Development Code Ann. §  4-252 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-252 - Tax-Exempt Status

    The following are exempt at all times from taxation of every kind and nature whatsoever by the State, a political subdivision, or a governmental unit of any kind:         (1)    a bond or note that the Administration issues under this part;        (2)    the transfer of, interest payable on, or income derived from the bond or note; and        (3)    profit realized by the sale or exchange of the bond or note.
MD. Housing and Community Development Code Ann. §  4-253 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part V - Development Expenditures; Administration Bonds and Notes|Section 4-253 - Interest Rate Exchange Agreements

    To improve the management of debt issued under the provisions of this part or to reduce the cost of servicing the debt, the Administration may enter into interest rate exchange agreements or contracts providing for payments based on levels of or changes in interest rates.
MD. Housing and Community Development Code Ann. §  4-255 (2021)
2021 Maryland Statutes|Housing and Community Development|Division I - Housing and Community Programs|Title 4 - Division of Development Finance|Subtitle 2 - Community Development Administration|Part VI - Prohibited Acts; Penalties|Section 4-255 - False Statements or Reports

    (a)    A person may not knowingly make or cause to be made a false statement or report in a document required to be submitted to the Administration by an agreement relating to a loan.    (b)    A person applying for a loan may not knowingly make or cause to be made a false statement or report to influence the action of the Administration on a loan application or to influence an action of the Administration affecting a loan already made.    (c)    A person who violates this section is guilty of a misdemeanor and on conviction is subject to imprisonment not exceeding 5 years or a fine not exceeding $50,000 or both.