HARRY HUGHES, Governor

1989

(8)  For its guidance, request a finding as to
the expediency and advisability of a proposed industrial
project from:

(i) The planning board of the political
subdivision in which the project is proposed to be located;
or

(ii) If the political subdivision does not
have a planning board, the officers of the political
subdivision or the regional planning board of which the
political subdivision is a member;

(9)  Make agreements with prospective
[mortgagees] LENDERS and [mortgagors] BORROWERS for
planning, designing, constructing, acquiring, altering, and
financing industrial projects; PROJECTS, INCLUDING ANY LOAN
DOCUMENT THAT THE AUTHORITY CONSIDERS APPROPRIATE TO EFFECT
A LOAN OF THE PROCEEDS OF THE BONDS;

(10)  Acquire, manage, operate, and dispose of
property, take assignments of rentals and leases, and make
contracts, leases, agreements, and arrangements that are
necessary or incidental to the performance of its duties;

(11)  Acquire or take assignments of [notes,
mortgages, and other forms of security and evidences of
indebtedness] LOAN DOCUMENTS;

(12)  Acquire, attach, seize, accept, or take
title to any industrial project by conveyance or[, if an
insured mortgage on the project is in default,] by
foreclosure, AND IN EITHER EVENT THE AUTHORITY MAY COMPLETE,
ADMINISTER, DISPOSE OF, OR OTHERWISE DEAL WITH THAT
INDUSTRIAL PROJECT, IN THE MANNER NECESSARY OR DESIRABLE TO
PROTECT THE INTERESTS OF THE AUTHORITY THEREIN, INCLUDING BY
WAY OF EXAMPLE, THE PAYMENT OF PRINCIPAL OR INTEREST ON ANY
OBLIGATIONS INCURRED WITH FOR THAT INDUSTRIAL PROJECT;

(13)  Sell, lease, or rent an industrial project
for any use;

(14)  Agree to pay annual sums in lieu of taxes
or assessments to any political subdivision or taxing
district of this State for any real property that the
Authority owns in the political subdivision or taxing
district; [and]

(15)  ADOPT RULES AND REGULATIONS NECESSARY TO
CARRY OUT THE PURPOSES OF THIS SUBTITLE; AND

[(15)] (16) Do anything necessary or convenient
to carry out [is] ITS powers.

Part III. Industrial Project [Mortgage] Insurance Fund

13-120.