MARVIN MANDEL, Governor

2911

No member of the Authority may participate in any
decision on any contract of insurance in which he has any
interests, direct or indirect, in any firm, partnership,
corporation, or association which would be the mortgagee,
whose loan to a mortgagor is insured IN WHOLE OR IN PART
by the Authority, or if he has any interest, direct or
indirect, in any firm, partnership, corporation or
association which would rent, lease or otherwise occupy
the premises constructed by the mortgagor where [[said]]
THE mortgage is insured IN WHOLE OR IN PART by the
Authority, or if he is a director or officer or otherwise
associated with the local development corporation whose
mortgage is insured IN WHOLE OR IN PART by the Authority.

SECTION 2. AND BE IT FURTHER ENACTED, That new
[[Section 266-O(11) be and it is]] Sections 266Q(3) and
266VA be and they are hereby added to Article 41 —
Governor — Executive and Administrative Departments, of
the Annotated Code of Maryland (1971 Replacement Volume
and 1974 Supplement) to read as follows:

Article 41 — Governor — Executive and Administrative

Departments

[[266-O.

(11) "INDUSTRIAL DEVELOPMENT AUTHORITY" MEANS AN
INDUSTRIAL DEVELOPMENT AUTHORITY WHICH IS CREATED BY A
MUNICIPALITY OR COUNTY AND IS AUTHORIZED TO ISSUE REVENUE
BONDS PURSUANT TO THE PROVISIONS OF SECTIONS 266A THROUGH
266-I OF THIS ARTICLE.]]

266Q.

(3)        NO FUNDS OF THE AUTHORITY SHALL BE USED IN

RESPECT OF ANY PROJECT WHERE THE STATE AVIATION
ADMINISTRATION IS A PARTICIPANT, UNLESS THE PROJECT IS
AIRPORT-RELATED OR AVIATION-RELATED. AND LOCATED ON LAND
ALREADY OWNED BY THE STATE AND SUBJECT TO THE
JURISDICTION OF THE STATE AVIATION ADMINISTRATION.

266VA.

THE PROVISIONS OF THIS SUBTITLE DO NOT RELIEVE THE
MORTGAGOR OF THE OBLIGATION TO MAKE PAYMENTS IN LIEU OF
TAXES FOR SERVICES PROVIDED BY ANY COUNTY OR
MUNICIPALITY.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved May 15, 1975.