772

LAWS OF MARYLAND

Ch. 49

(10)  Purchase, acquire, or take assignments of
notes, mortgages, and other forms of security and evidences
of indebtedness; purchase, acquire, attach, seize, accept,
or take title to any industrial project by conveyance or,
when an insured or partially insured mortgage thereon
clearly in default, by foreclosure; and sell, lease, or rent
an industrial project for a use specified in § 266-0 or any
other use;

(11)  Enter into agreements to pay annual sums in
lieu of taxes to any municipality, county, or taxing
district of the State in respect of any real property which
is owned by the Authority and located in such municipality,
county, or taxing district;

(12)  Approve loans for industrial projects in
accordance with this subtitle, whether or not a mortgage
loan will be insured as provided in § 266T of this article;
and

(13)  Do all acts and things necessary or
convenient to carry out powers expressly granted in this
subtitle except that, in all matters concerning the internal
administrative functions of the Authority the purchasing
procedures of the state relating to office space, supplies,
facilities, materials, equipment, and professional services
shall be followed.

266Q.

(1)  The Authority may not approve any loan if the
completion of the industrial project financed thereby would
result in the removal of an industrial or manufacturing
plant of the project occupant from one area of the State to
another area of the State or in the abandonment of one or
more plants or facilities of the project occupant located
within the State unless the Authority determines on the
basis of the application before it that the loan is
reasonably necessary to discourage the project occupant from
removing the other plant or facility to a location outside
the State or is reasonably necessary to preserve the
competitive position of the project occupant in its
respective industry.

(2)  The Authority may not approve any loan for any
industrial project that the Authority would be required to
operate, service or maintain pursuant to any lease or other
agreement except upon foreclosure.

(3)  The Authority may not approve any loan for an
industrial project in which the State Aviation
Administration is a participant, unless the industrial
project involves a public use airport or a public use
airport facility, subject to the jurisdiction of the State
Aviation Administration.