WILLIAM DONALD SCHAEFER, Governor Ch. 321

CREDIT ENHANCEMENTS IN SUPPORT OF THE FOREGOING ACTIVITIES
WILL ENCOURAGE AND EXPAND THE FLOW OF PUBLIC AND PRIVATE
CAPITAL IN SUPPORT OF ALL SUCH ACTIVITIES.

(G) In furtherance of such State [interest] INTERESTS, there is established a
Maryland Housing Fund.

3-202.

(A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(B) "CREDIT ENHANCEMENT" MEANS ANY GUARANTEE,
INCLUDING A GUARANTEE OF OBLIGATIONS IN ANY FORM BACKED BY A
POOL OF MORTGAGES, OR OTHER FORM OF ASSURANCE OR SECURITY
DEVICE ISSUED IN ORDER TO:

(1) IMPROVE THE CREDIT OF A QUALIFIED BORROWING
ENTITY; OR

(2) UPGRADE THE SECURITY OR RATING OF A FINANCIAL
OBLIGATION, INCLUDING MORTGAGE BACKED SECURITIES,
CERTIFICATES OF PARTICIPATION, AND ANY BONDS OR NOTES ISSUED
TO FINANCE ANY DEVELOPMENT ACTIVITIES DESCRIBED IN THIS
SUBTITLE.

(C) "DEVELOPMENT COSTS" HAS THE MEANING STATED UNDER §
2-203(G) OF THIS ARTICLE.

(D) "ENERGY CONSERVATION PROJECT", "SOLAR ENERGY
PROJECT", "REHABILITATION PROJECT", "INFRASTRUCTURE PROJECT",
"PUBLIC PURPOSE PROJECT", AND "DISTRESSED AREA" HAVE THE
MEANINGS STATED UNDER § 2-203 OF THIS ARTICLE.

(E) "FINANCE" INCLUDES "FINANCING" INCLUDES ACQUISITION
FINANCING, PERMANENT FINANCING, SHORT-TERM BRIDGE FINANCING,
CONSTRUCTION FINANCING, OR REFINANCING OF ANY TYPE OF LOAN
OR PROJECT AUTHORIZED UNDER THIS SUBTITLE.

(F) "HOUSING" INCLUDES SINGLE UNIT, MULTIPLE UNIT, SHARED
LIVING UNIT, AND ACCESSORY UNIT RESIDENTIAL FACILITIES, AND ANY
ANCILLARY COMMERCIAL OR OTHER FACILITIES THAT ARE RELATED
AND INCIDENTAL TO THE HOUSING AND WOULD SUPPORT THE

HOUSING.

(G) "MORTGAGE" INCLUDES MORTGAGES, DEEDS OF TRUST,
SECURITY AGREEMENTS, PLEDGES, OR ANY OTHER SECURITY
ARRANGEMENTS SECURING A LOAN, INCLUDING A MORTGAGE TO
FINANCE THE PURCHASE OF STOCK OR MEMBERSHIP IN, OR THE
CONSTRUCTION OR REHABILITATION OF UNITS IN, A COOPERATIVE
OWNERSHIP HOUSING CORPORATION.

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