HARRY HUGHES, Governor

2059

(I)  A SOLAR PROCESS HEAT DEVICE, SOLAR
ELECTRIC DEVICE, AND ANY EARTH SHELTERED BUILDING IN WHICH
THE SHELTERING SUBSTANTIALLY REDUCES THE CONSUMPTION OF
ENERGY BY THE BUILDING; AND

(II)  ONLY THOSE FIREPLACES THAT ARE
INTEGRAL PARTS OF A SYSTEM THAT IS DESIGNED TO UTILIZE
PASSIVE TYPE SOLAR ENERGY.

266DD-4.

The Administration shall have the following functions
and responsibilities:

(15) SUBJECT TO THE PROVISIONS OF AGREEMENTS ENTERED
INTO WITH THE MARYLAND ENERGY SUPPLY AND CONSERVATION
AUTHORITY, ADMINISTER ON BEHALF OF THAT AUTHORITY A PROGRAM
OF FINANCIAL ASSISTANCE BY MAKING OR PARTICIPATING IN THE
MAKING OF LOANS AND OTHER COMMITMENTS (INCLUDING LOAN
GUARANTEES AND PREPAYMENTS OF INTEREST ON LOANS), GRANTS,
AND COMBINATIONS THEREOF, (A) ADMINISTER A PROGRAM OF
FINANCIAL ASSISTANCE FOR ENERGY CONSERVATION PROJECTS,
INDUSTRIAL ENERGY CONSERVATION PROJECTS, AND SOLAR ENERGY
PROJECTS, SAID LOANS AND GRANTS TO BE FINANCED. FINANCIAL
ASSISTANCE SHALL BE PROVIDED WITH FUNDS AND OTHER MONEYS
MADE AVAILABLE TO THE ADMINISTRATION FOR SUCH PROJECTS FROM
SOURCES INCLUDING, BUT NOT LIMITED TO: PAYMENTS OF FINANCIAL

ASSISTANCE MADE TO THE MARYLAND ENERGY SUPPLY AND

CONSERVATION AUTHORITY THE ADMINISTRATION PURSUANT TO TITLE
V OF THE ENERGY SECURITY ACT (P.L. 96-294); BONDS OR NOTES
ISSUED BY THE MARYLAND ENERGY SUPPLY AND CONSERVATION
AUTHORITY; BONDS OR NOTES ISSUED BY THE ADMINISTRATION
PURSUANT TO THIS SUBTITLE SUBHEADING; OR ANY BONDS OR NOTES
ISSUED BY THE STATE OF MARYLAND. ANY LOAN FUNDS ESTABLISHED

BY THE ADMINISTRATION HEREUNDER SHALL BE CONTINUING,

NONLAPSING SPECIAL FUNDS CONSISTING OF ALL APPROPRIATIONS
AND MONEYS DEDICATED TO SUCH FUNDS AND THE REPAYMENTS OF ALL
LOANS MADE THEREFROM. THE INTEREST RATE OR RATES AND OTHER
TERMS OF LOANS MADE FROM THE PROCEEDS OF ANY BONDS OR NOTES
SHALL BE AT LEAST SUFFICIENT TO ASSURE THE PAYMENT IN FULL
OF THE BONDS OR NOTES AND THE INTEREST THEREON AS THEY
BECOME DUE, EXCEPT AS OTHERWISE PROVIDED IN A TRUST
AGREEMENT. SUBJECT TO THE PROVISIONS OF ANY CONTRACT WITH
NOTEHOLDERS OR BONDHOLDERS, CONSENT TO THE MODIFICATION,
WITH RESPECT TO RATE OF INTEREST, TIME OF PAYMENTS OF ANY
INSTALLMENT OF PRINCIPAL OR INTEREST, SECURITY, OR ANY OTHER
TERM, OF ANY LOAN, LOAN COMMITMENT, CONTRACT OR AGREEMENT OF
ANY KIND TO WHICH THE ADMINISTRATION IS A PARTY. IN
CONNECTION WITH ANY PROPERTY ON WHICH THE ADMINISTRATION HAS
MADE A MORTGAGE LOAN, THE ADMINISTRATION IS AUTHORIZED TO
FORECLOSE ON THE PROPERTY OR COMMENCE ANY ACTION TO PROTECT
OR ENFORCE ANY RIGHT CONFERRED UPON IT BY ANY LAW, MORTGAGE
CONTRACT OR OTHER AGREEMENT, AND TO BID FOR AND PURCHASE THE
PROPERTY AT ANY FORECLOSURE OR AT ANY OTHER SALE, OR ACQUIRE
AND TAKE POSSESSION OF THE PROPERTY; AND IN EITHER EVENT THE
ADMINISTRATION MAY COMPLETE, ADMINISTER, PAY THE PRINCIPAL