HARRY HUGHES, Governor

49

may sell local obligations to finance infrastructure projects to
the Administration:

[(i)] 1. At private or public sale, with
or without public bidding;

[(ii)] 2. Without regard to any
limitations on the denomination of such obligations; and

[(iii)] 3. At any interest rate or cost
or at any price that the issuer considers necessary or desirable.
The issuer of the local obligations may pay any fees or charges
necessary to enable the Administration to sell its bonds, notes,
or other obligations or to provide the financial assistance
authorized by this subsection (18), including any fees for the
insurance of local obligations or of notes, bonds, or obligations
of the Administration, or to provide any other guarantee, credit
enhancement, or additional security for any such obligations.

[(c)] (III) Notwithstanding any other provision
of public general or public local law, charter, or ordinance, in
order to enhance the security or the marketability of the bonds,
notes, or obligations of the Administration sold to finance an
infrastructure project, a county or municipality may agree with
the Administration to pledge any moneys that the county or
municipality is entitled to receive from the State, including
without limitations the county or municipality share of income
tax. In the event of such pledge, the State Comptroller and the
State Treasurer shall cause in accordance with the terms of such
agreement such moneys to be paid to the Administration or any
trustee designated by the Administration.

DRAFTER'S NOTE: This corrects stylistic errors in numbering
in Article 41, § 266DD-4(16) and (18).

Article 41, § 266DD-4(16) was numbered incorrectly in
Ch. 497 of the Acts of the General Assembly of 1981.
Article 41, § 266DD-4(18) was numbered incorrectly in
Ch. 787 of the Acts of the Regular Session of the
General Assembly of 1985.

The numbering errors were noted by the Michie Company.

571.

(a) Except as otherwise provided in this section, in
exercising its corporate powers, the Corporation is exempt from
the provisions of Articles 15A; 21; 41; [76A, § 10] § 10-507 OF
THE STATE GOVERNMENT ARTICLE; and 78A of the Code and of § 2-105,
Title 2, Subtitles 2, 4, and 5, Titles 3 and 4, Title 6, Subtitle
1, Title 7, Subtitles 1, 2, and 3, §§ 8-127, 8-128, and 8-129,
Part V of Title 8, Subtitle 1, and Titles 10 and 21 of the State
Finance and Procurement Article, any may carry out its corporate
purposes without obtaining the consent of any department, board,
or agency of the State.