reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-611.1 - Major Sports and Entertainment Event Program -- Purpose -- Implementation -- Award of Funding

(a)    (1)    In this section the following words have the meanings indicated.
(2)    (i)    “Major entertainment event” means, except as otherwise specified by the Authority, an indoor or outdoor event organized for the primary purpose of the entertainment or amusement of people with:
1.    an expected attendance of at least 20,000 people;
2.    a negotiated broadcasting deal with either live or delayed broadcasting;
3.    commercial sponsorship opportunities; or
4.    a demonstrated positive economic impact for the State.
(ii)    “Major entertainment event” includes:
1.    a parade;
2.    a carnival;
3.    a fair;
4.    a festival;
5.    a concert;
6.    an exhibition; and
7.    a show.
(3)    (i)    “Major sporting event” means, except as otherwise specified by the Authority, a professional or an amateur sporting event that is sanctioned by a regional, national, or international organization or association with:
1.    an expected attendance of at least 20,000 people;
2.    a negotiated broadcasting deal with either live or delayed broadcasting;
3.    commercial sponsorship opportunities; or
4.    a demonstrated positive economic impact for the State.
(ii)    “Major sporting event” does not include:
1.    a professional football game, except for:
A.    the Super Bowl; or
B.    an exhibition or championship game for an organization other than the National Football League;
2.    a professional baseball game, except for:
A.    a Major League Baseball All–Star Game; or
B.    an exhibition or championship game for an organization other than Major League Baseball; or
3.    a professional basketball game.
(4)    “Program” means the Major Sports and Entertainment Event Program.
(b)    (1)    There is a Major Sports and Entertainment Event Program in the Authority.
(2)    The purpose of the Program is to:
(i)    attract major sporting events and major entertainment events to the State;
(ii)    attract fans, participants, and tourists to the State for major sporting events;
(iii)    generate positive media coverage for the State; and
(iv)    generate a positive economic impact for the State.
(c)    Maryland Sports, established under § 10–611 of this subtitle, shall implement and administer the Program in accordance with this section.
(d)    With approval from the Authority and to assist with the costs of attracting and organizing a major sporting event or major entertainment event, including expenses associated with advertising, promotions, and capital projects, funding may be awarded to:
(1)    a nonprofit organization;
(2)    a for–profit organization;
(3)    a county; or
(4)    a business entity.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-611.2 - Major Sports and Entertainment Event Program Fund -- Use of Fund -- Source of Funds -- Investments

(a)    In this section, “Fund” means the Major Sports and Entertainment Event Program Fund.
(b)    There is a Major Sports and Entertainment Event Program Fund.
(c)    (1)    The Major Sports and Entertainment Event Program Fund is a continuing, nonlapsing fund that shall be available to implement the Major Sports and Entertainment Event Program established under § 10–611.1 of this subtitle.
(2)    (i)    The Authority shall:
1.    use the Fund as a revolving fund for carrying out the provisions of § 10–611.1 of this subtitle; and
2.    pay expenses from the Fund related to the Major Sports and Entertainment Event Program established under § 10–611.1 of this subtitle.
(ii)    The Authority may use the Fund to pay administrative and operating costs of the Program including costs to market and advertise the Program.
(d)    The Fund consists of:
(1)    money distributed to the Fund under § 9–120(b)(1)(ix) of the State Government Article;
(2)    money appropriated in the State budget to the Fund;
(3)    any interest earnings of the Fund; and
(4)    any additional money made available from any public source for the purposes established for the Fund.
(e)    (1)    The State Treasurer shall invest the money of the Fund in the same manner as other State funds.
(2)    Any investment earnings shall be credited to the Fund.
(3)    No part of the Fund may revert or be credited to the General Fund or any special fund of the State.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-612.1 - Youth and Amateur Sports Grants Program -- Purpose -- Administration -- Funding

(a)    (1)    In this section the following words have the meanings indicated.
(2)    “Fund” means the Michael Erin Busch Sports Fund established under § 10–612.2 of this subtitle.
(3)    “Program” means the Youth and Amateur Sports Grants Program.
(b)    (1)    There is a Youth and Amateur Sports Grants Program.
(2)    The purpose of the Program is to provide grants from the Fund to:
(i)    bring new youth and amateur sporting events to the State; and
(ii)    attract sports fans, participants, and tourists.
(c)    Maryland Sports shall implement and administer the Program in accordance with this section.
(d)    (1)    Maryland Sports may award grants from the Fund to nonprofit organizations, counties, business entities, or individuals to assist with the costs of bringing youth and amateur sporting events to the State, including the costs of capital projects or maintenance.
(2)    In awarding grants, Maryland Sports shall give priority to an applicant for a sporting event that:
(i)    has demonstrated financial support from a county; or
(ii)    has provided assurance that a majority of the needed funding has been raised from private sources.
(3)    To the extent practicable, Maryland Sports shall make awards to grantees that reflect:
(i)    the geographic diversity of the State;
(ii)    sports programs that are gender–specific and nonspecific; and
(iii)    diverse types of sports.
(4)    Unless the Authority expressly approves otherwise, the total amount of grants awarded to each nonprofit organization, county, business entity, or individual may not exceed $75,000 in a fiscal year.
(5)    In accordance with a budget approved by the Authority, Maryland Sports may use money in the Fund to pay administrative and operating costs of the Program, including costs to market and advertise the Program.
(e)    The Authority may adopt regulations to carry out this section.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part II - Stadium Authority › Section 10-612.2 - Michael Erin Busch Sports Fund -- Purpose -- Administration -- Funding. [Effective Until July 1, 2024]

(a)    In this section, “Fund” means the Michael Erin Busch Sports Fund.
(b)    There is a Michael Erin Busch Sports Fund.
(c)    The purpose of the Fund is to provide funding for the Youth and Amateur Sports Grants Program established under § 10–612.1 of this subtitle.
(d)    The Authority shall administer the Fund.
(e)    (1)    The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(2)    The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
(f)    The Fund consists of:
(1)    revenue distributed to the Fund under § 9–120(b)(1)(iv) of the State Government Article;
(2)    money appropriated in the State budget to the Fund;
(3)    interest earnings or other income earned from the investment of any money in the Fund; and
(4)    any other money from any other source accepted for the benefit of the Fund.
(g)    The Fund may be used only to:
(1)    make grants under the Youth and Amateur Sports Grants Program; and
(2)    pay the costs necessary to administer and operate the Youth and Amateur Sports Grants Program, including marketing and advertising costs.
(h)    (1)    The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(2)    Any interest earnings of the Fund shall be credited to the Fund.
(i)    Expenditures from the Fund may be made only in accordance with the State budget.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-613 - Miscellaneous Powers

(a)    The Authority may:
(1)    adopt a seal;
(2)    sue and be sued;
(3)    adopt bylaws and policies;
(4)    adopt regulations to carry out this subtitle in accordance with the Administrative Procedure Act;
(5)    have an office at the place the Authority designates;
(6)    appoint advisory committees composed of local officials, business interests, representatives of the convention, hotel, and tourism business, and other experts as appropriate;
(7)    subject to § 10–620 of this subtitle, acquire, lease as landlord or tenant, hold, encumber, or dispose of property;
(8)    enter into contracts and execute the instruments necessary or convenient to carry out this subtitle to accomplish its purposes;
(9)    determine the locations of, develop, establish, acquire, own, improve, operate, maintain, and contribute to the maintenance and operating costs of facilities as necessary to accomplish its purposes;
(10)    regulate the use and operation of facilities developed under this subtitle;
(11)    fix and collect rents, fees, and other charges for the use of facilities or for services rendered in connection with the facilities;
(12)    subject to Parts IV and V of this subtitle, issue bonds;
(13)    exercise the corporate powers of Maryland corporations under the Maryland General Corporation Law;
(14)    with respect to site acquisition, construction, and development of the Hippodrome Performing Arts facility and the Hagerstown Multi–Use Sports and Events Facility, establish and participate in Authority affiliates;
(15)    impose the admissions and amusement tax authorized under § 4–102 of the Tax – General Article; and
(16)    do all things necessary or convenient to carry out the powers granted by this subtitle.
(b)    The Authority may review and make recommendations on proposed convention center facilities, the Hippodrome Performing Arts facility, the Hagerstown Multi–Use Sports and Events Facility, and a Prince George’s County Blue Line Corridor facility, including the expansion and enhancement of the Baltimore City Convention Center and the Ocean City Convention Center and the development and construction of the Montgomery County Conference Center, the Hippodrome Performing Arts Center, the Hagerstown Multi–Use Sports and Events Facility, and a Prince George’s County Blue Line Corridor facility with respect to location, purpose, design, function, capacity, parking, costs, funding mechanisms, and revenue alternatives, with specific recommendations on:
(1)    the level of support from the private sector;
(2)    the type of support from the private sector;
(3)    special taxing sources;
(4)    projected revenues;
(5)    bonding authority and the source of debt service; and
(6)    the fiscal impact on the State of any revenue alternatives.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-614 - Miscellaneous Powers -- Financing

Subject to the approval of the Board of Public Works, the Authority may:
(1)    borrow money from any source for any corporate purpose, including working capital for its operations, reserve funds, or interest;
(2)    mortgage, pledge, or otherwise encumber the property or funds of the Authority;
(3)    contract for the services of any person in connection with any financing, including financial institutions, issuers of letters of credit, or insurers; and
(4)    receive and accept from any public or private source contributions, gifts, or grants of money or property and invest the money or property as a whole or in part.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-615 - Prohibitions

(a)    An Authority sports facility may not be used to conduct professional basketball games.
(b)    The Authority may not construct or enter into a contract to construct a sports facility other than at Camden Yards unless specifically authorized by an enactment of the General Assembly.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-616 - Authority to Develop Camden Yards

(a)    Subject to the approval of the Board of Public Works and the Legislative Policy Committee, the Authority may develop any portion of Camden Yards to generate incidental revenues for the benefit of the Authority.
(b)    The authority granted under subsection (a) of this section includes the power to develop, establish, acquire, own, lease, improve, operate as landlord, regulate, maintain, sell, transfer, or otherwise dispose of any portion of Camden Yards.
(c)    Except for its condemnation power, the Authority may exercise all of its powers under this subtitle with respect to the development of portions of Camden Yards.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-617 - Camden Yards -- Specific Limitations

(a)    Notwithstanding any other law, a dome may be built or added on a stadium at Camden Yards only if specifically authorized by an enactment of the General Assembly.
(b)    During any period in which major league professional baseball games are played at the baseball stadium at Camden Yards, a major league professional baseball team may not play major league professional baseball games on a regular basis at another professional sports stadium in the State that:
(1)    is constructed in part with State funds; or
(2)    benefits from or is supported by State-funded transportation or other infrastructure projects developed due to the construction of the stadium.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-618 - Authority to Acquire Sites

(a)    (1)    Except as provided in paragraph (2) of this subsection, contracts to acquire any facility site, to construct the facility, or for construction on the facility site require the prior approval of the Board of Public Works.
(2)    Contracts to construct a public school facility or for construction on a public school site do not require the prior approval of the Board of Public Works.
(b)    The Authority may:
(1)    acquire by any of the means specified in § 10–620(a) of this subtitle:
(i)    a site at Camden Yards for a facility;
(ii)    a Baltimore Convention site or an interest in the site;
(iii)    an Ocean City Convention site or an interest in the site;
(iv)    a Montgomery County Conference site or an interest in the site;
(v)    a Hippodrome Performing Arts site or an interest in the site;
(vi)    a Hagerstown Multi–Use Sports and Events Facility site or an interest in the site;
(vii)    a sports entertainment facility site or an interest in the site; and
(viii)    a Prince George’s County Blue Line Corridor facility site or an interest in the site; and
(2)    construct or enter into a contract to construct a facility on a site it acquires under this subsection.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-619 - Authority to Acquire Ownership Interest in Professional Teams

(a)    Subject to the prior approval of the Board of Public Works, the Authority may:
(1)    hold an ownership interest in or operate a professional football or major league professional baseball team or team franchise for up to 2 years during a transition to private ownership; and
(2)    continue to hold, but not operate, an ownership interest in a professional football or major league professional baseball team during a transition of the team without a time limitation.
(b)    If necessary, the Board of Public Works may renew its approval under subsection (a) of this section each year.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-621 - Sale of Seat Licenses

(a)    Except as provided in subsection (b) of this section, proceeds derived from the sale of permanent seat licenses at a professional sports stadium constructed in the State by the Authority for a professional sports team that relocates from another jurisdiction to the State may be used only for:
(1)    amounts that are owed to a national sports league or association as a result of the costs of the relocation of a professional sports team from another jurisdiction to the State;
(2)    the design and construction costs of necessary training facilities;
(3)    the reasonable costs of moving and relocation, including:
(i)    the physical movement of property;
(ii)    land and air travel costs;
(iii)    employee severance costs; and
(iv)    employee relocation costs;
(4)    amounts owed to the other jurisdiction and other interested parties claiming rights because of the relocation of the professional sports team to the State, including any amounts paid to the other jurisdiction or interested parties to resolve the claims;
(5)    the repayment of bonds or other indebtedness incurred by or for the benefit of the team in connection with facilities that the relocated professional sports team used or occupied in the other jurisdiction;
(6)    payments to the Authority; or
(7)    other reasonable costs and expenses incurred or losses sustained because of the relocation.
(b)    Proceeds derived from the sale of personal seat licenses that exceed the costs described in subsection (a) of this section:
(1)    may not accrue directly to the benefit of an individual or private entity; and
(2)    shall be held by the Authority for stadium construction and maintenance of the professional sports stadium in the State the relocated professional sports team uses.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622 - Projects for State Units and Local Governments

(a)    (1)    Subject to subsection (b) of this section, the Authority may prepare studies and may design and construct projects for units of the State, the University of Maryland Medical System, and political subdivisions.
(2)    The studies may include site studies, architectural programs, budget estimates, value engineering, and project schedules.
(b)    Before beginning work under subsection (a) of this section on behalf of a unit of the State, the University of Maryland Medical System, or a political subdivision, the Authority shall:
(1)    notify the budget committees of the General Assembly in writing of the proposed project and its estimated costs and funding sources; and
(2)    allow the budget committees 30 days to review and comment on the proposed work.
(c)    The Authority may enter into contracts, retain consultants, and make recommendations relating to project activities under this section.
(d)    (1)    For project activities under this section, the Authority shall use money that is:
(i)    provided by the unit of the State, the University of Maryland Medical System, or local government; or
(ii)    otherwise appropriated for the particular purpose.
(2)    In each fiscal year the Authority:
(i)    may use up to $500,000 of its available nonbudgeted money for feasibility studies that are approved by the budget committees; but
(ii)    may not use this money for construction.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622.1 - Studies for Development of Supplemental Facilities for Benefit of Sports Facilities at Camden Yards

(a)    (1)    Subject to subsection (b) of this section, the Authority may prepare studies that relate to the development of supplemental facilities that directly or indirectly benefit the sports facilities at Camden Yards.
(2)    The studies may include site studies, feasibility studies, architectural programs and design, budget estimates, value engineering, and estimated project schedules.
(b)    The activities authorized under this section:
(1)    are limited to sites within Baltimore City; and
(2)    may be undertaken solely by the Authority or by the Authority in cooperation with Baltimore City, other units of the State, the professional football or major league baseball franchises at Camden Yards, or other entities.
(c)    The Authority may enter into contracts, agreements, and memoranda, retain consultants, and make recommendations relating to activities authorized under this section.
(d)    For activities authorized under this section, the Authority shall use money that is:
(1)    appropriated for the particular purpose;
(2)    provided by public or private entities; or
(3)    with approval from the budget committees, up to $1,000,000 of the Authority’s available nonbudgeted money in each fiscal year.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622.2 - Development of Supplemental Facilities and Sites for Benefit of Sports Facilities at Camden Yards

(a)    Subject to the approval of the Board of Public Works and review by the Legislative Policy Committee, the Authority may develop supplemental facilities and supplemental facility sites to directly or indirectly benefit the sports facilities at Camden Yards.
(b)    The authority granted under subsection (a) of this section includes the power to:
(1)    develop, establish, acquire, own, lease, improve, operate as landlord, regulate, maintain, sell, transfer, or otherwise dispose of property acquired under this section; and
(2)    enter into partnerships with Baltimore City, units of the State or local government, or private developers.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622.3 - Authority to Acquire Property

(a)    Subject to annual appropriations and this subtitle, the Authority may acquire in its own name, by gift or purchase, any property or interest in property necessary or convenient to develop supplemental facilities and supplemental facility sites to directly or indirectly benefit Camden Yards.
(b)    The Authority shall notify Baltimore City of the Authority’s intent to acquire property under this section and provide Baltimore City at least 30 days in which to submit comments on the proposed acquisition.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622.4 - Approval for Contract to Acquire Property or Demolish Existing Structure

A contract to acquire any property or demolish an existing structure that relates to the development of a supplemental facility site or a contract for the construction of a supplemental facility requires the prior approval of the Board of Public Works.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-622.5 - Bonds

(a)    Except as allowed by § 10–639 of this subtitle, the Authority may issue bonds subject to §§ 10–628(a) and (c) and 10–629 through 10–636 of this subtitle to finance site acquisition for and construction of any portion of a supplemental facility.
(b)    The Authority shall provide to the fiscal committees of the General Assembly, at least 45 days before seeking approval of the Board of Public Works for each bond issue or other borrowing, a comprehensive financing plan for the relevant segment of a supplemental facility, including the effect of the financing plan on financing options for other segments of the supplemental facility.
(c)    (1)    A bond issued to finance a supplemental facility:
(i)    is a limited obligation of the Authority payable solely from money pledged by the Authority to the payment of the principal of and the premium and interest on the bond or money made available to the Authority for that purpose;
(ii)    is not a debt, liability, or pledge of the faith and credit or the taxing power of the State, the Authority, or any other governmental unit; and
(iii)    may not give rise to any pecuniary liability of the State, the Authority, or any other governmental unit.
(2)    The issuance of a bond to finance a supplemental facility is not directly, indirectly, or contingently a moral or other obligation of the State, the Authority, or any other 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 the provisions of paragraphs (1) and (2) of this subsection.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-623 - Duties

The Authority shall:
(1)    submit the operating and capital program budget of the Authority each year to the Department of Budget and Management for inclusion in the State budget book for informational purposes; and
(2)    keep records that are consistent with sound business practices and accounting records using generally accepted accounting principles.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-624 - Audit

The Authority shall:
(1)    have an independent certified public accountant audit the accounts and transactions of the Authority at the end of each fiscal year; and
(2)    be subject, at any reasonable time, to audit and examination of the accounts and transactions of the Authority by the Office of Legislative Audits of the Department of Legislative Services.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part III - Powers › Section 10-625 - Annual Reports

(a)    Except as provided in subsection (b) of this section, the Authority shall submit:
(1)    an annual detailed report of the activities and financial status of the Authority to the Governor, and, in accordance with § 2–1257 of the State Government Article, the General Assembly; and
(2)    annual reports on the additional tax revenues generated by each of the following facilities:
(i)    the Baltimore Convention facility;
(ii)    the Hippodrome Performing Arts facility;
(iii)    the Montgomery County Conference facility;
(iv)    the Ocean City Convention facility;
(v)    the Hagerstown Multi–Use Sports and Events Facility;
(vi)    a sports entertainment facility; and
(vii)    a Prince George’s County Blue Line Corridor facility site.
(b)    The Authority is not required to submit the annual reports listed under subsection (a)(2) of this section for additional tax revenues generated by the facilities for fiscal year 2021.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-629 - Payment of Bonds

(a)    The Authority shall pay the bonds issued in accordance with this part only from the property or receipts of the Authority.
(b)    Property and receipts of the Authority include:
(1)    taxes, fees, charges, or other revenues payable to the Authority;
(2)    payments in accordance with letters of credit, lines of credit, insurance policies, or purchase agreements;
(3)    investment earnings from funds or accounts maintained in accordance with a bond resolution or trust agreement;
(4)    the proceeds of refunding bonds; and
(5)    any other source authorized by law.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-630 - Authorization of Bonds by Resolution or Trust Agreement

(a)    The Authority shall authorize the issuance of bonds by resolution.
(b)    (1)    The bonds may be secured by a trust agreement by and between the Authority 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.
(c)    The bonds shall:
(1)    be issued at, above, or below par value, and for cash or other valuable consideration;
(2)    mature on a date or dates not exceeding 40 years from their respective dates of issue, whether or not the bonds are serial or term bonds;
(3)    bear interest at the fixed rate or the variable rate provided in the resolution or trust agreement;
(4)    be payable at a time or times and be in the denominations and form, either coupon or registered, as provided in the resolution or trust agreement;
(5)    be subject to the registration provisions, have the privileges as to conversion, and be subject to the provisions for the replacement of mutilated, lost, or destroyed bonds as provided in the resolution or trust agreement;
(6)    be a “security” within the meaning of § 8-102 of the Commercial Law Article, whether or not each bond is one of a class or series or is divisible by its terms into a class or series of instruments;
(7)    be negotiable for all purposes although payable from a limited source, notwithstanding any other law;
(8)    be payable in lawful money of the United States at a designated place;
(9)    be subject to the terms of purchase, payment, redemption, refunding, or refinancing as provided in the resolution or trust agreement;
(10)    subject to subsection (d) of this section, be executed by the manual or facsimile signatures of the officers of the Authority designated by the Authority;
(11)    be sold in the manner and on the terms determined by the Authority, including competitive or negotiated sale; and
(12)    are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(d)    An officer’s signature or facsimile signature on a bond of the Authority remains valid at delivery even if the officer leaves office before the bond is delivered.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-631 - Resolutions and Trust Agreements -- Additional Provisions

A resolution of the Authority or a trust agreement between the Authority and a corporate trustee may contain provisions that shall be part of the contract between the Authority and the holders of the bonds as to:
(1)    (i)    the pledging, assigning, or directing the use, investment, or disposition of receipts of the Authority or proceeds or benefits of any contract; and
(ii)    the conveying or otherwise securing of any property or property rights;
(2)    debt service reserves, capitalized interest accounts, cost of issuance accounts, sinking funds, and the setting aside of deposits, and the regulation, investment, and disposition of the funds specified in this item;
(3)    limitations on the use and investment of bond proceeds;
(4)    restrictions on the investment of revenues or bond proceeds to government obligations the principal and interest of which are unconditionally guaranteed by the United States of America;
(5)    limitations and conditions relating to the issuance of additional bonds, which may rank on a parity with, or be subordinate or superior to, other bonds;
(6)    the refunding or refinancing of outstanding bonds;
(7)    (i)    the procedures by which the terms of a contract with bondholders may be amended; and
(ii)    the amount of bonds the holders of which are needed to consent to an amendment under item (i) of this item and the manner of that consent;
(8)    describing Authority defaults and the rights and remedies of bondholders;
(9)    providing for guarantees, pledges of property, letters of credit, or other security, or insurance for the benefit of bondholders; and
(10)    any other matter relating to the bonds that the Authority determines appropriate.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-632 - Personal Liability of Authority Member -- Exemption

Neither a member of the Authority nor any other person executing the bonds is subject to any personal liability because of the issuance of the bonds.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-633 - Agreement for Enhancing Marketability of Bonds

The Authority may enter into agreements for the purpose of enhancing the marketability of, or to provide security for, its bonds.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-634 - Pledges by Authority of Revenues or Money Deposited in the Baltimore City Public School Construction Financing Fund

(a)    A pledge by the Authority of revenues or money deposited in the Baltimore City Public School Construction Financing Fund or the Supplemental Public School Construction Financing Fund as security for an issue of bonds is valid and binding from when the pledge is made.
(b)    (1)    The revenues or money deposited in the Baltimore City Public School Construction Financing Fund or the Supplemental Public School Construction Financing Fund that are pledged are immediately subject to the lien of the pledge without any physical delivery or further act.
(2)    The lien of any pledge is valid and binding against any person having a claim against the Authority in tort, contract, or otherwise, regardless of whether the person has notice of the lien.
(c)    Notwithstanding any other provision of law, in order to perfect a lien on pledged revenues or money deposited in the Baltimore City Public School Construction Financing Fund or the Supplemental Public School Construction Financing Fund against a third person, it is not necessary to file or record any document adopted or entered into by the Authority in any public record other than in the records of the Authority.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-635 - Enforcement of Rights by Bondholders

Except to the extent restricted by an applicable resolution or trust agreement, a bondholder or a trustee acting under a trust agreement entered into under this subtitle, may, by any suitable form of legal proceedings, protect and enforce any rights granted under the laws of the State or by any applicable resolution or trust agreement.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part IV - Bonds -- in General › Section 10-636 - Refunding Bonds

(a)    Subject to the prior approval of the Board of Public Works, the Authority may issue bonds to refund any of its outstanding bonds, including the payment of:
(1)    any redemption premium; and
(2)    any interest accrued or that will accrue to the earliest or any subsequent date of redemption, purchase, or maturity of the bonds.
(b)    (1)    For the public purpose of achieving a savings in the effective costs of debt service or alleviating impending or actual default, the Authority may issue refunding bonds directly or through a debt restructuring.
(2)    The bonds authorized by this subsection may be issued in one or more series and in an amount in excess of that of the bonds to be refunded.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part V - Restrictions on Bonds and Borrowing › Section 10-639 - General Restrictions on Bonds and Borrowing

This part governs the closing on the sale of bonds and other borrowing of money by the Authority in amounts exceeding $35,000 a year to finance any segment of a facility.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part V - Restrictions on Bonds and Borrowing › Section 10-644 - Sports Facilities

(a)    Except as allowed by § 10-639 of this subtitle, to finance acquisition and construction of any segment of a sports facility, the Authority shall comply with this section.
(b)    The Authority shall provide certification to the Legislative Policy Committee and the Board of Public Works, supported by a detailed report, that the Authority has:
(1)    attempted to maximize private investment in the sports facility proposed to be financed; and
(2)    with respect to a baseball or football stadium, negotiated a lease or a renewal or extension of a lease that will not terminate prior to the maturity date or payoff of any bonds issued for the stadium.
(c)    The Authority shall provide to the fiscal committees of the General Assembly, at least 45 days before seeking approval of the Board of Public Works for each bond issue or other borrowing, a comprehensive financing plan for the relevant segment of the facility, including the effect of the financing plan on financing options for other segments of the facility and anticipated revenues from private investment.
(d)    The Authority shall obtain the approval of the Board of Public Works of the proposed bond issue, the lease or a renewal or extension of a lease described under subsection (b)(2) of this section, and the financing plan.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part VI - Miscellaneous Bond Provisions › Section 10-647 - Legal Investments

A financial institution, investment company, insurance company or association, or a personal representative, guardian, trustee, or other fiduciary, may legally invest any money belonging to it or within its control in any bonds issued by the Authority.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part VI - Miscellaneous Bond Provisions › Section 10-648 - Tax Status

(a)    The Authority is exempt from any requirement to pay taxes or assessments of any kind.
(b)    The principal of and interest on bonds, and any income derived from the bonds, including profits made in their sale or transfer, are forever exempt from all State and local taxes.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-651 - Baltimore Convention Financing Fund

(a)    There is a Baltimore Convention Financing Fund.
(b)    (1)    The Baltimore Convention Fund is a continuing, nonlapsing fund that shall be available in perpetuity to implement this subtitle concerning Baltimore Convention facilities.
(2)    The Authority shall:
(i)    use the Baltimore Convention Fund as a revolving fund for carrying out this subtitle concerning Baltimore Convention facilities; and
(ii)    pay any and all expenses from the Baltimore Convention Fund that are incurred by the Authority related to the Baltimore Convention facility.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Baltimore Convention Fund shall be pledged to and charged with the following relating to the Baltimore Convention facility:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority resolution.
(d)    The Baltimore Convention Fund consists of:
(1)    funds appropriated for deposit to the Baltimore Convention Fund;
(2)    proceeds from the sale of bonds concerning the Baltimore Convention facility;
(3)    revenues collected or received from any source under this subtitle related to Baltimore Convention facilities; and
(4)    any additional money made available from any public or private sources for the purposes established for the Baltimore Convention Fund.
(e)    (1)    The Treasurer shall invest the money of the Baltimore Convention Fund in the same manner as other State funds.
(2)    Any investment earnings shall be credited to the Baltimore Convention Fund.
(3)    No part of the Baltimore Convention Fund may revert or be credited to the General Fund or any special fund of the State.
2023 Maryland Statutes › Economic Development › Division II - Independent and Regional Development Units and Resources › Title 10 - Statewide Development Resources and Revenue Authorities › Subtitle 6 - Maryland Stadium Authority › Part VII - Funds › Section 10-652 - Camden Yards Financing Fund

(a)    There is a Camden Yards Financing Fund.
(b)    The Authority shall:
(1)    use the Camden Yards Fund as a nonlapsing, revolving fund for implementing this subtitle concerning sports facilities and other facilities at Camden Yards;
(2)    pay all expenses and make all expenditures related to Camden Yards facilities from the Camden Yards Fund; and
(3)    transfer the sum of $24,000,000 to the Public School Construction Fund established under § 7–326 of the State Finance and Procurement Article by making an annual payment of $2,400,000 beginning in fiscal year 2001 and ending in fiscal year 2010.
(c)    (1)    To the extent considered appropriate by the Authority, the receipts of the Camden Yards Fund shall be pledged to and charged with the following relating to sports facilities:
(i)    the payment of debt service on Authority bonds;
(ii)    all reasonable charges and expenses related to Authority borrowing; and
(iii)    the management of Authority obligations.
(2)    The pledge shall be effective as provided in § 10–634 of this subtitle and any applicable Authority resolution.
(d)    The Camden Yards Fund consists of:
(1)    proceeds from the sale of bonds related to sports facilities;
(2)    revenues collected or received from any source under this subtitle related to Camden Yards facilities;
(3)    any other revenues related to Camden Yards facilities, under the jurisdiction of the Authority;
(4)    admissions and amusement tax revenues distributed to the Authority under the Tax – General Article;
(5)    any additional revenue, gift, donation, or other funding source authorized by law related to Camden Yards facilities; and
(6)    payments by Baltimore City under subsection (f) of this section.
(e)    (1)    The Treasurer shall invest the money of the Camden Yards Fund in the same manner as State funds.
(2)    Any investment earnings shall be credited to the Camden Yards Fund.
(3)    No part of the Camden Yards Fund may revert to or be credited to the General Fund or any special fund of the State.
(f)    Baltimore City shall pay $1,000,000 each year into the Camden Yards Fund for the purposes of debt service and other forms of obligation by the Authority.