HARRY HUGHES, Governor                               1357

THE AUTHORITY SHALL TAKE AFFIRMATIVE STEPS TO INCLUDE

MINORITY BUSINESSES IN ITS MARKETS TO AT LEAST THE SAME
EXTENT AS REQUIRED BY SECTION 14G.

(g) Use the proceeds of bonds of the Authority, or
funds otherwise available or to become available under the
provisions of this subtitle, or such proceeds and any other
grant from the United States of America or the State, or any
agency or instrumentality of either, for the purposes
contemplated by the provisions of this subtitle; or finance
any private, public, or quasi—public corporation,
partnership, association, person, or other legal entity in
carrying out such purposes, either on land or property that
is owned or otherwise held or controlled by the Authority or
State, or on, under, or in any land or property owned or
otherwise held or controlled by any private, public or
quasi—public corporation, partnership, association, person,
or other legal entity [provided, however,] AND CHARGE TO AND
EQUITABLY APPORTION BETWEEN SUCH PRIVATE, PUBLIC OR
QUASI-PUBLIC CORPORATION, PARTNERSHIP, ASSOCIATION, PERSON,
OR OTHER LEGAL ENTITY ALL OR A PORTION OF THE AUTHORITY'S
ADMINISTRATIVE COSTS AND EXPENSES INCURRED IN ITS EXERCISE
OF THE POWERS AND DUTIES CONFERRED BY THIS SUBTITLE.
HOWEVER, if the Authority finances any private, public or
quasi-public corporation, partnership, association, person
or other legal entity to carry out the purposes of this
subtitle as hereinabove provided, no part of the proceeds
shall be expended for actually constructing, erecting,
altering, expanding, improving, or equipping any building,
structure, or facility for the purposes contemplated by this
subtitle (as distinguished from funds which are necessary to
be expended in connection with the acquisition of land or
property or the preparation of plans or the employment of
assistants, aides, or employees of the Authority, or other
matters or things which are usually and generally
preliminary to the commencement of actual construction work)
until the Authority, with the approval of the Board of
Public Works of the State, has entered into a binding
contract with the private, public, or quasi—public
corporation, partnership, association, person or other legal
entity secured to the satisfaction of the Board of Public
Works under the terms of which the private, public, or
quasi—public corporation, partnership, association, person,
or other legal entity is obligated to pay to the Authority
or its designee a sum to provide for the payment of (1) the
interest upon the bonds sold pursuant to the provisions of
this subtitle as the interest falls due, (2) the principal
of the bonds as it falls due, (3) the necessary fiscal
agency charges for paying principal and interest AND ANY
CHARGES OR FEES FIXED BY THE AUTHORITY FOR ITS
ADMINISTRATIVE COSTS AND EXPENSES, and (4) any premium upon
bonds retired by call or purchased as provided in this
subtitle. In addition, the legal entity shall pay to the
State of Maryland, or any of its political subdivisions, the
amount of State and local property taxes as the same accrue
from the time of the transfer of the property to such legal
entity.